Houston, 3 June 2010

energycredit, a Temenos company and the leading supplier of enterprise-wide credit risk management software to trading organizations, today announced the launch of a preconfigured version of its credit risk management system. The ‘Packaged solution’ is  an out-of-the-box, pre-configured system that is the only product on the market that allows firms to deploy all the core business functionality needed to effectively manage credit risk – in a timescale of just eight weeks.

The Packaged solution covers most credit risk management needs and enables small to mid-sized customers to quickly benefit from an efficient and effective way of managing credit exposures and collateral activities.  Based on energycredit’s award-winning software, the Packaged solution gives customers maximum flexibility and has the potential to be scaled up as the needs of the business grow and processes become more sophisticated. The project scope, cost and eight-week deployment process are all clearly defined upfront removing any concerns about project risk.

Key functionality includes: a single repository containing all counterparty and contract information; exposure and limits management by counterparty, product, trading entity etc; collateral management, including automatic generation of margin and interest calls; diary management for credit events and collateral activities; and a full reporting suite that gives users access to timely and comprehensive data for exposure, collateral, counterparty and exception management.

RWE Supply & Trading Switzerland SA, formerly known as Essent Trading International prior to its acquisition by the RWE Group, is now live on energycredit. RWE Supply & Trading Switzerland is the first customer to deploy the Packaged solution, the latest version of energycredit aimed at energy trading organisations wanting a rapid implementation of a pre-configured credit solution. This Packaged solution offers a defined set of functionality that every credit manager fundamentally needs to professionally mitigate credit risk and effectively manage daily collateral processes. The solution will enable RWE Supply & Trading Switzerland to enhance its control of counterparty credit risk and collateral processes, thus improving efficiency. Following a comprehensive review of the market, the energy trading company selected energycredit, based on the strength of the product, the expertise of the people and the benefits offered by a rapidly delivered solution.

"We required an advanced solution to effectively manage our exposures across the group in a timely, automated fashion, which energycredit allows us to do,” said Jonathan Howard, Senior Credit Manager at RWE Supply & Trading Switzerland. “In deploying the Packaged solution, the company can benefit from a low cost of ownership and focus on our core business, rather than systems implementation and maintenance."

Ian Sloggett, Sales & Marketing Director, energycredit, said: “Credit risk is a universal challenge facing all companies and increasingly organisations are faced with demands for accurate and timely information relating to their credit exposure and financial liquidity. For trading organisations a credit risk system is no longer a ‘nice to have’ but a ‘must have’ to ensure credit risk is kept in check.

Through our extensive experience implementing credit risk systems for organisations trading across multiple physical commodities including power, gas, coal, carbon and oil, we identified a gap in the market for customers who need a robust and scalable solution that can be implemented quickly. Our Packaged solution is unique in providing mid-tiered organisations with a comprehensive credit risk management solution that can easily be adapted as business needs change.”

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