Providus' alliance with FileNet combines FileNet's powerful Enterprise Content Management (ECM) and Business Process Management (BPM) functionality with Providus' flagship product, RiskResolve, which provides a single, unified environment for managing and consolidating operational risk, controls and compliance objectives enterprise-wide. Together, these complementary technology providers intend to leverage their extensive domain expertise and incorporate best practices for prioritizing business management and IT resources to support ORM and compliance objectives throughout the entire organization.

Organizations can leverage and extend the value of their FileNet implementations by integrating FileNet's ECM and BPM platform with Providus' RiskResolve risk management framework for monitoring risks, controls and loss events. As a result, users can access and retrieve FileNet-managed content, documents, contracts and archived data files directly from their RiskResolve desktop dashboard to verify, validate and measure the effectiveness of their control environment.

By combining FileNet's integrated business process management, content management, and records management capabilities with Providus' RiskResolve, companies can take advantage of a comprehensive solution for managing operational risk and compliance initiatives designed to provide:

• Direct correlation of content and records to the regulation, processes, controls, and testing of risk events
• Alignment of compliance risk with related documents and content within one framework
• Access through a universal view of records throughout lines of business and technology silo
• Adequate and effective assessment, scoring and testing of controls
• Consistent regulatory documentation
• Continuous learning through formalized oversight
• An adaptive framework for future regulatory compliance

"The combination of our customer-proven ORM capabilities and FileNet's market leading enterprise content, business process and records management functionality can deliver significant benefits to our customers," said Andrew T. Evans, president and CEO of Providus. "We're excited about the opportunity to leverage the power of FileNet's business process and enterprise content management solutions to streamline, automate and document numerous processes and controls through RiskResolve, enabling customers to optimize the value of their ORM systems and mitigate the risk of non-compliance."

"We believe greater access to content can make it easier to meet compliance guidelines and enterprise-wide risk management goals," said Lee Roberts, chairman and CEO of FileNet. "FileNet and Providus have a mutual goal of providing go-to-market solutions to reduce risk within the enterprise and promote compliance with a broad scope of industry regulations. This partnership is a natural fit for us, and we are looking forward to offering our customers access to the operational risk management and compliance technology offered through RiskResolve."

Providus' RiskResolve software provides financial service institutions with an enterprise-class solution for managing operational risk and meeting compliance objectives in a disciplined, consistent manner. With RiskResolve, firms are able to quickly move beyond compliance objectives, minimizing the cost of conformance while maximizing business value. RiskResolve is the only Operational Risk Management solution that uses a proven approach called Active Risk Management that provides a single, comprehensive and open framework for identifying and managing operational risks and controls within lines of business and across the enterprise. Designed expressly for business managers who need real-time insight into operational risk and controls to effectively assess and measure risks against actual outcomes, RiskResolve enables managers on all levels to better respond to risks and potential losses throughout the entire institution.