21 October 2017
Register now

IBM closes Promontory acquisition

22 November 2016  |  3753 views  |  0 Source: IBM

IBM (NYSE: IBM) today announced it has completed the acquisition of Promontory Financial Group, a global market-leading risk management and regulatory compliance consulting firm.

The firm’s expertise and offerings directly address the standards for compliance implemented to ensure the integrity of the financial system, protect consumers and build trust through transparency.

Promontory, combined with IBM's deep industry expertise and Watson’s cognitive capabilities, will directly address the massive operational effort and manual cost of constantly changing regulation and risk management requirements. With the completion of the acquisition, Promontory will help accelerate IBM’s development of cognitive solutions for risk and compliance.

Promontory’s professionals will train Watson, which will learn by continuously ingesting regulatory information as it is created and through interaction in real-world applications. This includes solutions for tracking evolving regulatory obligations, expectations and control requirements, as well as solutions that address specific compliance needs, such as financial risk modeling, surveillance and insider threat, and financial crimes including counter fraud, anti-money laundering (AML) and Know Your Customer (KYC).

The acquisition complements IBM's Industry Platforms business, formed to develop open vertical platforms – the first comprehensive “as a service” offerings designed from the ground up for individual industries. These platforms will integrate IBM Cloud, Watson and capabilities from across digital ecosystems of specialized providers, and serve multiple clients in an industry – delivering dramatically reduced costs for outcomes spanning speed, quality, audit-ability, security and transparency.

Promontory will operate as a wholly owned subsidiary of IBM. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.innotribe.comvisit www.atos.net

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
9460 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8826 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7940 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7499 views comments | 10 tweets | 22 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
7307 views comments | 16 tweets | 16 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job