Reuters and IBM in Asia Pacific risk ASP deal
03 April 2003 | 5203 views | 0
Reuters has teamed with IBM to deliver 'pay-as-you-go' risk management services to small and medium sized financial services firms in the Asia Pacific region.
The partnership will combine Reuters' Kondor + software with IBM's hosting, consulting and integration services. Reuters will also provide risk management advisors and specialist sales support, although both companies will market the solution to firms in the region.
The browser-based service will include risk analytics covering fixed income, equities, foreign exchange and money markets as well as market news and data, transaction and anti-money laundering services.
Mark Smith. Reuters Asia director, solutions, says risk management has become one of the key challenges for Asian financial firms due to regulatory changes and increased competition.
"Smaller financial institutions are seeking to adopt internationally accepted practices and methodologies to ensure they remain competitive as the Asian market opens to foreign financial institutions," says Smith.
Robert Ingham, trading and solutions executive, IBM, says that delivering risk management solutions via an e-business on demand approach is more cost effective as it converts fixed costs to variable costs.
"This type of solution offers our customers a far more responsive, flexible and resilient risk solution compared to traditional offerings. Customers will have access to increased computing power, product upgrades, security and maintenance services," he says.