Kamakura


Kamakura Risk Manager (KRM), Kamakura Risk Information Services (KRIS), Kamakura Online Processing Services (KOPS), Kamakura Risk Consulting Services


Overview


Kamakura is a pure risk management specialist, based in Honolulu. Most development work is still carried out here. It has a strong slant towards academia and practitioners. Founder, Donald van Deventer, was ex-Lehman Brothers. The company was named after the Japanese village where he used to go to meditate. The academics include Professor Robert Jarrow who, among other things, has advised the US government on its Troubled Assets Relief Program. There are partnerships with a number of universities, including the University of Honolulu and Cornell University. The company remains privately held. Kamakura has two parts to its business. First, there is a credit risk information subscription service (KRIS), an alternative to the


big two ratings agencies. Second – the focus of this entry – is the risk management platform, Kamakura Risk Management (KRM). The company has a decent claim to have focused on integrated risk from the outset, with a belief that different types of risk are interconnected, such as interest rate risk with credit risk. Liquidity risk has traditionally been a focus, ahead of most of the rest of the market coming round to this view. KRM is often taken for one area within a financial institution and is extended over time. Among those with fairly broad use are First Rand in South Africa and Raiffeisen in Austria. The largest is China Construction Bank, with around 400 million transactions per day. A common competitor is Algorithmics (now owned by IBM). For the most part, Kamakura has worked through partners to build up its customer base. Particularly active has been Fiserv,


centred on its IPS-Sendero subsidiary. Kamakura started to operate directly in the US from around 2002. Much more recently, it has been building up its presence in the rest of the world.


Summary history


1990 Kamakura founded. 1994


KRM launched for credit risk.


1997 Kamakura relocates to Honolulu. 2001 Adds market risk support to KRM. 2002 2003


Starts to establish a direct presence in the US. First Basel II implementation.


2011 Starts to build up a direct presence in Europe, Middle East, Asia and elsewhere. It claims a reduction in the Fiserv relationship, to cover solely Asia, in September.


Risk Management Systems & Suppliers Report | www.ibsintelligence.com 63


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