IBM has unveiled a package of software, hardware, and consulting services designed to help financial institutions meet the information management demands of the forthcoming Basel II Capital Accord.
IBM says its Risk and Compliance - Basel II Information Management offering works with a company's existing technology framework and enables banks to connect scattered data repositories and make the right business information accessible on an automated basis.
The firm is looking to tap into a potential $4 billion software and services spend over the next two years as banks race to comply with the new Accord. A poll conducted by IBM's Business Consulting Services among bankers responsible for implementing Basel II found that 96% identified data management as their main challenge - including identifying the right data, integrating and managing the data across the enterprise and applying sophisticated analysis and reporting features.
IBM's Basel II offering includes the DB2 database, DB2 Information Integrator, DB2 Cube Views and the IBM Banking Data Warehouse models. Third party data integration software from firms such as Ascential Software and Informatica are also available as part of the package. Hardware platforms include the eServer pSeries and IBM TotalStorage Enterprise Storage Server to address analytics and record-keeping compliance.
The package comes with an entry-level price tag of $350,000 and is available immediately.