IBM Industry Models version 8.2 feature enhanced industry content and tooling for the Banking, Insurance, Financial Markets, Retail and Telecommunications models. These models accelerate business requirements, deployment and user acceptance of performance management solutions based on IBM Industry Models, IBM InfoSphere Information Server, InfoSphere Warehouse and IBM Cognos 8 BI.
The release enables new and existing clients, who have invested in the IBM Industry Data Models, to take greater advantage of the InfoSphere and Cognos portfolio to accelerate their industry specific, performance management solutions.
Here are some of the new capabilities in detail:
Enhanced Content: banking, insurance and financial markets content including:
IBM Financial Markets Data Warehouse (FMDW) – enhancements include:
- Introduction of support for corporate pensions: The IBM Insurance Process and Service models have been updated to support corporate pension plans. The initial focus is on Defined Contribution plans and covers subject areas such as new business acquisition, policy administration, claims, billing, group schemes, commissions, and informational activities. Included with this new content are two "worked examples" representing Stakeholder pensions (UK) and 401K (US).
IBM Banking Data Warehouse (BDW) – enhancements including:
- Introduction of support for U.S. Generally Accepted Accounting Principles (GAAP) Taxonomy 1.0 (approved and delivered on August 31, 2008): A company responsible for reporting according to U.S. GAAP guidelines can now leverage the IBM Banking Data Warehouse to store and report relevant financial metrics and connect them to the physical instantiation of the U.S. GAAP guidelines in extensible business reporting language (XBRL).
- Updated support for International Financial Reporting Standards (IFRS). Previous support for the 2006 IFRS Taxonomy in the IBM Banking Data Warehouse has been upgraded to comply with the 2008 release of the IFRS Taxonomy. Updates include international financial reporting standards, international accounting standards, and interpretations approved in 2008.
- Single Euro Payments Area (SEPA) enhancements: SEPA lets you make non-cash payments to any beneficiary anywhere in the Euro area using a single bank account and a single set of payment instruments. Previous support in the IBM Banking Data Warehouse was based on V2.3 of the Direct Debit and Credit Transfer Rulebooks. This support has been upgraded to align with V3.1 of the Direct Debit Rulebook and V3.2 of the Credit Transfer Messages Rulebook.
Creation of IBM Banking and Financial Markets Data Warehouse (BFMDW)
- Expressly for universal banking and investment companies, the Industry Models team have created another offering to satisfy the needs of organizations with a broad analytical requirements.
- Synchronized with current version 8.2 content from both the Financial Markets and Banking Data Warehouse models, this new model provides both models in a single package. This removes the need to buy two separate models.
IBM Insurance Process and Service Models
- Introduction of support for corporate pensions: The IBM Insurance Process and Service models have been updated to support corporate pension plans. The initial focus is on Defined Contribution plans and covers subject areas such as new business acquisition, policy administration, claims, billing, group schemes, commissions, and informational activities. Included with this new content are two "worked examples" representing Stakeholder pensions (UK) and 401K (US).
IBM Insurance Information Warehouse (IIW) enhancements including:
- Introduction of support for Basic Life and Pension Actuarial Analysis: This support includes the addition of 40 new measures and a new requirement focus area.
- Updated support for Solvency II: New analytical model updates and business terms for the Solvency II Balance Sheet based on the CEIOPS Quantitative Impact Study #4 (QIS4) have been added. The updates include new focus areas (requirements), new measures, new business terms, and enumerations.
Enhance Tooling: Tighter integration with InfoSphere Information Server with the Telecommunications Data Warehouse (TDW), and Retail Data Warehouse (RDW) models:
- IBM has migrated Retail Data Warehouse and Telecommunications Data Warehouse models to the Enterprise Model Extender environment from M1. With this migration, customers can now take advantage of a more robust and functional modeling environment, resulting in higher quality models and integration capabilities.
- Native Rational Data Architect (RDA) data models for Retail Data Warehouse and Telecommunications Data Warehouse deliver simplified usage by InfoSphere Information Server (especially InfoSphere Business Glossary, InfoSphere Information Analyzer, InfoSphere FastTrack and IBM Cognos 8 BI).
- Enhanced integration with IBM InfoSphere Business Glossary: IBM InfoSphere Business Glossary is an excellent tool that enables business users to create, manage, and share an enterprise vocabulary. Using IBM InfoSphere Data Architect with the set of Enterprise Model Extender plug-ins, you can now create, manage, and share a business vocabulary with IBM InfoSphere Business Glossary, based on the foundation models of IBM Industry Models.
