Prometeia, the global leader in Risk Management consulting and software solutions, announced that its ERMAS 5 suite has a new data foundation: ERMAS ADB (Analytical Data Base), a new proprietary data environment explicitly designed to support the most advanced analytical needs.
"ADB provides a quick, scalable and flexible answer to the Big Data challenges posed by Risk, Credit and Liquidity analyses,” comments Massimo Pedroni, Head of International Business at Prometeia. “This new data foundation will help our customers not only to support the traditional ETL processes but also to meet BCBS 239 requirements and its PERDAR.”
In January 2013 the Basel Committee issued eleven Principles for Effective Risk Data Aggregation and Reporting (also called ‘BCBS 239 – PERDAR’ framework), pushing banks to evolve beyond the typical ‘silos’ view where each risk factor is monitored on a stand-alone basis, without a common dictionary and taxonomy. BCBS 239 is fundamental step in this direction and it expected to revolutionize key areas such as Data Governance, Infrastructure & Data Quality, and Reporting.
With ERMAS ADB, Prometeia delivers a fully integrated data model, not only from a technical point of view but also from a business and organizational perspective: “This environment is conceived to break the barriers between CFO and CRO, as an innovative tool to manage the entire data structure needed for Risk & Performance analysis,” adds Mr. Pedroni.
The ADB offers the following main features:
ERMAS users will greatly benefit from this new tool, by reducing the total cost of ownership of their internal data interfaces, existing ETL tools, and reporting platforms.
ERMAS, the new generation of value-centric risk solutions, is used by over 200 clients in more than 20 different countries to support their critical decisions and to comply with local and international regulatory requirements.
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