HP announced a new business intelligence solution for financial services organizations that enables them to better measure risk and improve compliance management processes.
The solution, called HP Enterprise Risk Management, is based on HP Neoview, the company's next-generation enterprise data warehousing platform. The solution addresses all three pillars of Basel II for industry regulations such as Sarbanes-Oxley, International Accounting Standards, Anti-Money Laundering and Know Your Customer.
The HP Enterprise Risk Management solution was developed in collaboration with industry-leading business intelligence software partners Informatica, MicroStrategy and Quadrant. HP has coupled this technology with its business intelligence hardware and services to deliver a broad offering for enhanced data access, governance and data quality management.
The powerful combination of Quadrant's data model, Informatica's enterprise-grade Extract, Transform and Load tool for data quality management, and MicroStrategy's front-end analytic dashboard allows financial institutions to achieve a comprehensive understanding of operational risk within every aspect of their business.
"Regulatory compliance is an ever-increasing burden for financial institutions, and one that HP is well-equipped to address," said Tim Evans, global director, Banking, and chief technology officer, Financial Services Industries, HP. "The HP Enterprise Risk Management solution is designed to use the capabilities of business intelligence to better address these challenges."