October 2, 2014 - BlackIce Enterprise Risk Management Inc. (BlackIce) (CSE: BIS), a global enterprise risk management technology provider and Quartet FS, a provider of in-memory analytics technology today announced a new partnership agreement.
As part of this partnership, BlackIce will integrate and license Quartet FS' ActivePivot within its 'BlackIce ERA Live, powered by ActivePivot', the combination of the two companies' software solutions for Big Data Enterprise Risk Aggregation.
BlackIce ERA Live, a real-time analytics and reporting dashboard is the next generation in risk data aggregation business intelligence solutions that specifically tackles the requirements of Basel III and the Dodd-Frank Wall Street Reform and Consumer Protection Act (set by the ECB, the Federal Reserve and other Global Regulators) for flexible and timely financial analysis.
Built on top of BlackIce's industry-tested, comprehensive BCBS prescribed Internal Capital Adequacy Assessment Process enterprise-wide risk data models - BlackIce ERA Live integrates Quartet FS' ActivePivot to enable dynamic reporting and 'what-if' stress-testing analysis. An in-memory transactional and analytics processing engine, ActivePivot aggregates data from multiple sources and allows business users to analyze dynamic data by following their train of thought.
Moving away from traditional static reporting, 'BlackIce ERA Live powered by ActivePivot' loads all relevant risk data in-memory, with full visualization and aggregation capabilities, giving risk and compliance officers the ability to instantly run what-if scenarios across the totality of the wholesale and retail operations of the bank. The dynamic nature of the reporting interface allows full ad-hoc reporting, with the ERA data models providing access to any relevant risk-data dimension. The solution can facilitate a range of enterprise-wide stress-testing calculations across all business lines and dimensions in the bank including: RWA; Economic Capital; Enterprise VaR; Marginal VaR; CVA; Concentration Risk and Liquidity Risk.
Mac Kalyan, CEO and Director of BlackIce Enterprise Risk Management Inc. said: "ActivePivot's ability to aggregate large volumes of data 'on the fly' and to perform 'what-if' simulations on dynamic data sets it apart from other analytics solutions in the market. We are excited to partner with a company as experienced as Quartet FS in the in-memory analytics space to help our clients achieve an enterprise-wide view combining Market, Wholesale and Retail risk."
Allen Whipple, co-founder and managing director of Quartet FS, said: "We are thrilled to partner with BlackIce to put ActivePivot on top of BlackIce's proven data model. The combination provides a perfect fit not only to meet BIS regulatory guidelines, but also to provide an interactive, live, what-if environment for risk simulations and analysis."
