IRIS FINANCIAL SYSTEMS' COMPONENT SERVICES ARCHITECTURE (CSA(tm)) PROVIDES OPTIMAL ARCHITECTURE FOR BUILDING NEXT GENERATION CREDIT RISK MANAGEMENT SOLUTIONS

Cross asset/inter-system risk management components enable credit risk information aggregation and real-time reporting.

CSA (Component Services Architecture) is a series of technical, business and application components written in Java for the J2EE enterprise software standard.

1 October 2002 - Geneva - Sibos Conference - Iris Financial Systems, a leading provider of customized, component-based financial software solutions today announced that its CSA provides the optimal architecture for developing next generation credit risk management solutions.

The CSA framework is comprised of components specifically designed to aggregate data from disparate trading systems, a requirement for managing credit risk. The components will enable Iris Financial's customers to effectively mitigate credit and operational risk, and subsequently meet the requirements of the Basle II accord.

Iris Financial's component-based approach to solution development is particularly effective in aggregating credit risk information from disparate trading systems facilitating real-time reporting. Credit derivatives traders would benefit from real-time information, which enables rapid reaction to market dynamics. Financial organizations would also benefit from being able to view total credit risk exposure across all markets and asset types and enable them to adjust credit risk management strategies accordingly.

The flexibility of the CSA framework means that an application written using the components would be able to incorporate all business cycles and internal events that directly impact credit risk. Component-based solutions are highly tailored to meet financial institutions' unique trading styles, instrument and asset class preferences, and credit risk management strategies.

Kevin Galliers, Vice President of Global Sales at Iris Financial Systems comments, "Component services have a proven track record of effectively aggregating risk management information within several of the world's largest financial institutions. The CSA is flexible and robust enough to handle the sophisticated aggregation functionality requirements implicit in credit derivatives trading. Recent market events have highlighted the need for all financial institutions to understand their total credit risk - across all markets and asset classes. Our domain knowledge of credit risk coupled with the sophistication of the CSA means we can deliver credit risk management solutions at the highest level."

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