Welcome!

Websphere Authors: RealWire News Distribution, Mark O'Neill, Jayaram Krishnaswamy, Bob Gourley, PR.com Newswire

News Feed Item

BlackIce Officially Releases the BlackIce ERA(TM) Solution for Banking

The BlackIce Enterprise Risk Data Aggregation (ERA) solution gives banking executives supreme confidence in risk decision-making and compliance with a single source for all risk data and a dynamic analytic and reporting platform.

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/10/14 -- BlackIce Enterprise Risk Management Inc. (BlackIce) (CSE:BIS) announces today the release of the Enterprise Risk Data Aggregation solution for banking. BlackIce ERA(TM) is the first and only complete "out-of-the-box" solution that delivers to boards and senior banking executives an integrated view of risk for combined banking and trading books. "Bank executives, risk management committees and Boards will be able to better understand their risk and effectively comply with the BCBS Risk Data Aggregation guidance in the most cost effective and timely manner", said Mac Kalyan, CEO Managing Director of BlackIce.

The foundation of BlackIce ERA(TM) was developed from a combination of years of practitioner and consulting experience based on credit, market and operational risk processes at financial institutions across the globe. The ERA(TM) solution delivers an open, integrated and single source of data for all risk types across the bank, enabling regulatory and management reporting from a single risk data repository.

"This is a unique and timely product," said Kalyan. "Financial institutions worldwide are scrambling for assistance in dealing with their mounting data management and reporting challenges as new international rules are implemented and deadlines approach in 2016".

BlackIce is co-marketing BlackIce ERA(TM) with IBM's PureData System for Analytics to address new and evolving financial regulations and best practices. This relationship results in an end-to-end ERA(TM) solution that provides a rapid implementation path and a solution that will facilitate financial institutions getting the most out of their data with confidence.

BlackIce ERA(TM) comes packaged with hundreds of predefined risk reports with defined business rules, and enterprise-level credit and market risk analytics. In keeping with our company's philosophy of an open-solution, financial institutions are able to use their existing applications and tools without compromising any of the unique benefits of ERA(TM). The BlackIce approach and strategic direction integrates the 'best of breed' market leaders in risk analytics and business intelligence tools with the ERA(TM) in order to meet the most sophisticated banking needs in a timely fashion. This not only ensures regulatory compliance, but also the scalability necessary to meet the future strategic needs of institutions.

BlackIce ERA(TM) comes as a complete, out-of-the-box data and analytical solution. ERA(TM) is an authoritative and comprehensive risk data environment enabling dynamic reporting and risk analytics on demand for key tasks like ad-hoc regulatory stress testing and real-time risk based pricing. As stated by the Enterprise Data Management Council, "Risk Data Aggregation is not a deliverable; it is an objective...firms must enable their technology infrastructures, their business processes, and their data so they can sufficiently respond to a systemic event, crisis and/or contagion". While BlackIce ERA(TM) accelerates complex risk data aggregation projects, the long-term value lies in establishing a single risk data platform for confident risk decision-making.

What sets ERA(TM) apart from the competition is its open architecture. Rather than taking a "Black Box" approach, ERA(TM) is completely extensible and can be adapted to any existing risk environment. Furthermore, having been built from the ground up in financial institutions the solution is practical and proven, not theoretical.

"Financial institutions face extraordinary challenges related to profitability, complexity and new regulations in an uncertain economic environment. Many institutions have historically siloed systems and data architectures, and because of more exacting auditing, risk management and regulatory requirements, underlying analytics it can take weeks to review pertinent account data. With the BlackIce ERA(TM) the necessary data is only a key-stroke away", said Mr. Kalyan. "The BlackIce ERA(TM) is a solution institutions would build for themselves if time and money was not a constraint".

While BlackIce ERA(TM) accelerates complex risk data aggregation compliance projects, the long-term value lies in establishing a single risk data platform for confident risk decision-making. There is currently no end-to-end solution except for BlackIce ERA(TM).

BlackIce Enterprise Risk Management Inc.

Mac Kalyan, CEO, Director

Supporting Information

For more information on the BlackIce Inc., and the ERA(TM) visit www.blackiceinc.com. The BlackIce / IBM PureData System for Analytics brochure is available at: http://blackiceinc.com/wp-content/uploads/2014/04/IBM-PureData-Solutions-and-BLACKICE-ERA.pdf.

More information on Basel Committee on Banking Supervision (239) can be found here: http://www.bis.org/publ/bcbs239.pdf

Forward-Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of BlackIce Enterprise Risk Management Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The CSE has not reviewed, approved or disapproved the content of this press release.

Contacts:
BlackIce Enterprise Risk Management Inc.
(604) 336-0107
www.blackiceinc.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.