Asparity Announces Acquisition of Operational Risk Technology

Durham, N.C. - 11 April 2006

Asparity Decision Solutions has completed the acquisition of the J-Port suite of operational risk tools from Portiva Corporation. The acquisition expands Asparity’s decision support and data solutions in employee benefits and workforce talent to help companies take a self-service approach to managing operational risk.

Asparity has delivered decision support and data solutions for employee benefits to some of the largest organizations in the world since 1999. More than forty Fortune 1000 companies and the Federal government use Asparity’s online decision support tools to help their employees become better health care consumers. The tools are also delivered through outsourcing organizations, which private label Asparity’s tools and embed them into their benefits administration platforms. Employers use the information generated by Asparity’s data solutions to drive strategy and control costs — thereby becoming better health care suppliers.

Asparity believes that organizations need easy-to-use software tools to manage operational risk, much like they use for employee benefits. “We have a successful track record of developing self-service solutions and delivering them to our corporate clients and through our strategic partners,” said Colleen Murphy, Asparity’s President and COO. “Our goal is to apply the same self-service approach to operational risk that organizations have adopted for employee benefits.” The software helps organizations improve decision making, control costs, and respond to specific credit-rating practices and regulatory obligations, such as Basel II and Sarbanes-Oxley.

Asparity’s J-Port suite works in a similar fashion to its employee benefit services. Asparity customizes the software application for an organization’s specific business needs, loads the operational risk data, and secures the user community. The reporting capabilities help leadership to identify loss events, develop risk assessments, review key risk indicators, and adhere to compliance rules, credit requirements, and service agreements. With this clear picture, leadership can define the areas of greatest exposure, implement changes to improve operations, and better control risk expenses and credit ratings. Asparity’s employees and operations in Amarillo, Texas will deliver the software application.

“We are excited about bringing our colleagues and capabilities to Asparity’s clients and partners in the US and around the world,” said Kent Thornton, who joins Asparity from Portiva — along with the other employees — as the Vice President of Operations and Technology for the operational risk division. “It’s a powerful combination that not only makes it easier for companies to manage operational risk, but also provides leadership with the information it needs to act quickly and decisively.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development