Hot on the heels of its reference data deal with Dresdner Bank (Reference Data Review, January 2004), IBM this month launched a suite of data management solutions designed to cater for institutions seeking to comply with the Basel II operational risk regulations. The new suite – with the snappy name of Risk & Compliance-Basel II Information Management – is a combination of IBM hardware and software, including the IBM Banking Data Warehouse and the DB2 Universal Database. The suite also reportedly includes middleware from Ascential and is priced at $350,000 at entry level. The system aims to allow financial institutions to draw on data from multiple repositories in multiple formats in order to meet the requirements of the Basel II framework. IBM reckons the platform has other applications as well: the system “provides banks with a multipurpose framework to subsequently adopt other specific solutions for a variety of regulations, such as Sarbanes-Oxley, anti-money laundering regulations, and international accounting and financial reporting standards,” which would appear to give it appeal beyond the European banking community, the group most affected by Basel II.
A-Team Insight Blogs
IBM Builds on Reference Data Initiative with Basel II Suite
As unstructured data floods into capital markets in the wake of traditional structured data, firms must manage both data types and ensure ease of access to extract data required for regulatory compliance efficiently and effectively. Beyond compliance, firms can add value to the business by gaining a clear understanding of their unstructured data, integrating the...
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Now in its 2nd year, the RegTech Summit APAC will bring together the regtech ecosystem to explore how capital markets in the APAC region can leverage technology to drive innovation, cut costs and support regulatory change. With more opportunities than ever before for RegTech to add value, now is the time to invest for the future. Join us to hear from leading RegTech practitioners and innovators who will share insights into how they are tackling the challenges of adopting and implementing regtech and how to advance your RegTech strategy.
Welcome to the ninth edition of A-Team Group’s Regulatory Data Handbook, a publication dedicated to helping you gain a full understanding of regulations related to your organisation from the details of requirements to best practice implementation. This edition of the handbook includes a focus on regulations being rolled out to bring order and standardisation to...