O.R. System , Mayakorp Ink Partnership on Credit Risks Management

O.R. System, a software publisher for counterparty risk management, financial analysis and internal rating, announces a new partnership with the Nigerian company Mayakorp Nigeria limited. The partnership is part of O.R. System’s international development plan, following the opening of offices in Brazil and Poland. Mayakorp based in Lagos, provides end to end Credit Risk and HR solutions as well as IT services across West Africa. Both companies recently signed an agreement in Montpellier, south of France. Nigeria is the third strongest economy in Africa, the first one in West Africa. In order to gear the region towards a robust banking industry, the Central Bank of Nigeria and West Africa are currently strongly boosting banks to implement global risk management standards, such as Basel II and III, which requires banks to maintain elaborate loss histories and make data available for deriving stress test impacts. O.R. System’s flagship offering ANADEI provides such an advanced counterparty risk management solution. In order to be accompanied in this vast market with many opportunities and a new culture, O.R. System chose to partner with Mayakorp and benefit from its expertise and knowledge of the local market. Martins Ndigwe, CEO of Mayakorp comments, “As an IT solution provider and an expert of the West African region, Mayakorp saw in the ANADEFI product a major opportunity to address a growing market need. It is a financial analysis and rating end to end solution, compliance oriented, easy to implement by the business with little IT intervention. To localize, promote, commercialize and implement ANADEFI is now one of our priorities.” Jean-Luc Fort, CEO of O.R. System, added, “The West African banking sector is booming and ANADEFI, a solution used by most French banks, addresses a strong need. In Mayakorp we have found an acknowledged partner who can help us better address the local market and manage all the opportunities that arise. We have already met with several major local companies and are going to announce new customers in the coming months.”