Source: Iris AG
IRIS integrated risk management ag Zurich (IRIS AG) and the Institute for Data Analysis and Process Design (IDP) of the Zurich University of Applied Sciences Winterthur have agreed to work together in the integrated risk and profitability analysis area.
The integrated risk analysis infrastructure riskpro, which has been offered to the banking sector worldwide for over ten years, shall be enhanced for other fields.
IRIS AG is among the leading suppliers of integrated risk and profitability analysis solutions worldwide. The IDP is an acknowledged leader in analysis and modeling of complex stochastic systems using quantitative methods. This project has a strategic dimension for both partners. Knowledge and technology developed in the framework of the project will not only be useful for IRIS AG but also be incorporated in the contents of the bachelor's program of financial engineering and financial mathematics of IDP.
The heads of the project are Dr. Willi Brammertz (IRIS AG), the "father" of riskpro, and Prof. Dr. Wolfgang Breymann (IDP), an internationally recognized scientist and developer of financial market applications.
This cooperation is an example of a useful symbiosis between "real-world" economy and research. On one hand, it allows the IDP to successfully fulfill its research and development mandate at international level, from which IRIS AG will benefit On the other hand the Institute gets the opportunity to use riskpro(tm) in its academic program. The simulation capabilities of riskpro(tm), comparable to those of flight simulators used to train pilots, open new perspectives for the banking courses.
The cooperation is supported by the Federal Innovation Promotion Agency CTI. CTI aims to make the expertise developed by universities accessible to enterprises, especially small and medium sized ones. Cutting-edge research and development are critical for their success. With this approach Switzerland wants to secure a long-term leading position in the high technology sector.