Teradata introduces enterprise risk management system
26 June 2006 | 1986 views | 0
Source: NCR Corporation
Teradata, a division of NCR Corporation (NYSE:NCR), announced today the introduction of the Teradata Enterprise Risk Management solution.
The announcement signals the expansion of Teradata's commitment to help financial services institutions respond to a range of regulatory requirements while creating strategic value for the business enterprise. The solution provides an integrated data management platform, which includes a comprehensive combination of hardware, software and professional consulting services.
"Teradata is focused on enabling financial services executives to transform compliance issues from a management migraine into a strategic opportunity," said Jim Donovan, Teradata's vice president of global industry solutions for financial services. "The Teradata Enterprise Risk Management solution creates a single, authoritative data environment to ensure accuracy, consistency and auditability across business lines. With this approach, the management of risk becomes one of the most compelling opportunities organizations have today for achieving innovations that will accelerate growth and drive operational efficiency."
Industry experts have determined that financial services institutions can become focused on meeting costly and time-consuming risk-related compliance requirements of Sarbanes Oxley, Basel II and the Patriot Act, pulling resources from growth initiatives. To address this issue, many financial institutions have chosen to deploy an enterprise data warehouse, which creates a single view of the business and customers. With centralized data and powerful analytic software, financial service providers are then capable of identifying the best opportunities for profitable growth while meeting regulatory requirements with confidence.
"The pressure is on financial service providers to create a competitive differentiation instead of just meeting compliance requirements," according to Vincent Oliva, Gartner managing vice president. "Those that can quickly respond are most likely to be successful during the next few years. It is time for financial service providers to start treating risk management as a proactive discipline that creates an environment in which regulatory risk doesn't unnecessarily thwart business growth and profitability."
More than 50 industry-leading financial services institutions already rely on Teradata technology for their risk data management needs. Many of Teradata's customers are ranked among the largest and most innovative global financial services providers.
The components of Teradata Enterprise Risk Management solution include the Teradata® Warehouse 8.1, a suite of hardware, software and professional consulting services. In addition, the solution is supported by Teradata Financial Services Logical Data Model and partnerships.