Vancouver, BC – 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.”
About Quartet FS
Quartet FS's in-memory technology provides business users with instant insight into massive, complex and fast moving data for timely decision making. Using Quartet FS’ in-memory aggregation engine ActivePivot, organizations are able to build mission-critical, sense-and-respond applications that enable them to accelerate business performance and optimize their operations while reducing risks.
Quartet FS, founded in 2005, is a privately owned company with offices in Paris, London, New York, Hong Kong and Singapore. With more than fifty live implementations in large international groups, the company serves customers in many verticals, including financial services, market exchanges, logistics, transportation, and retail. For more information, please visit www.quartetfs.com.
About BlackIce Enterprise Risk Management Inc.
BlackIce is a global enterprise risk management technology that has developed ERA™, a practical, open platform that delivers end-to-end data and analytical standards to support a comprehensive ERM (Enterprise Risk Management) environment. ERA™ is a central point for all the relevant enterprise-wide risk and finance data elements and calculations required to meet all of the regulatory expectations of Basel (I, II & III), RDA requirements, and the FSB program for monitoring concentration risk.
While BlackIce ERA™ accelerates complex risk data aggregation compliance projects, the long-term value lies in establishing a single risk data platform for confident risk decision-making. There is currently no end-to-end solution except for BlackIce ERA™.
The company’s Governance & Compliance Database (GCD™) is an application that allows financial institutions to assess, govern and manage adherence and compliance to regulatory guidelines across multiple regulatory requirements including: Basel II/III; Living Wills; Risk Data Aggregation and Financial Stability Oversight.
For more information about BlackIce Inc., and ERA™ visit www.blackiceinc.com.
BlackIce Enterprise Risk Management Inc.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of BlackIce Enterprise Risk Management Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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