IBM is to integrate PeopleSoft's Enterprise Financial Management products with its risk and compliance package to help financial services firms meet Basel II mandates.
IBM's risk and compliance package includes financial services consulting, middleware, hardware and integration services. The initiative enables financial firms to gain a comprehensive view of how financial data will be gathered, enhanced, stored, calculated and reported.
PeopleSoft's profitability management software will provide the analytic capabilities for the combined solution, including risk weighted capital, asset liability management and funds transfer pricing.
Elaine Sullivan, global general manager, financial markets, IBM, says: "This joint initiative provides customers with the tools they need for Basel II compliance -- robust, integrated applications from PeopleSoft, comprehensive consulting services from IBM, and the best joint technology infrastructure."
IBM and Peoplesoft will jointly market the Basel II package.