Fair Isaac has joined forces with IBM to profit from the demand among banks for Basel II compliance applications.
The new product, dubbed the IBM Risk and Compliance – Basel II Information Management Offering, n some unspecified way integrates what IBM has with what Fair Isaac calls is “TRIAD control system.” In combination, the two products will deliver what is mysteriously called “high-end analytics for comprehensive risk analysis and greater insight into the data that banking institutions need to comply with Basel II.”
Fair Isaac claims this integrated product will allow banks to make better-informed decisions regarding customer and account management, scoring, collections, credit line management and marketing communications.
The IBM Basel II solution is already used by 35 banks. “IBM’s new Basel II solution builds upon a proven business intelligence solution that has already been successfully deployed by numerous customers world-wide,” says Karen Parrish, VP IBM Business Intelligence Solutions. “The addition of Fair Isaac’s established TRIAD portfolio management capabilities extends the key benefits of this new solution by enabling customers to manage information requirements associated with Basel II today, and at the same time helping to create an infrastructure to support requirements of future regulatory mandates.”
“Integrating TRIAD adaptive control system with IBM’s Basel II infrastructure enables banks to greatly accelerate implementation of the world’s leading account management solution,” adds Gresh Brebach, Fair Isaac Corporation’s VP of Corporate Development and Strategic Partners. “Combining IBM’s world-class information management capabilities with TRIAD helps banks invest beyond compliance to enable more precise risk management and smarter customer decisions.”
The new offering includes a central data warehouse based on transactional data-that can be used for purposes that go well beyond Basel II compliance.
“This solution brings together the power of best-in-class technology from Fair Isaac and IBM, both banking industry leaders,” says June Felix, General Manager Global Banking Solutions. “The Basel II solution blends the insights of IBM’s business consultants and world-class business intelligence technology with IBM’s best-practices data management framework and business process models. Clients can use this data not only for compliance but also for customer insight and competitive advantage.”
The solution leverages IBM’s world-class Information Management Software, including IBM DB2 Data Warehouse Edition, WebSphere Information Integrator, IBM Alphablox and leading edge business partner tools – implemented by industry experts from the IBM Business Consulting Services and Systems and Technologies Groups.
Fair Isaac Corporation provides analytics. It was founded in 1956.