Banks are under constant scrutiny to maintain the highest standards of security and accuracy. To maintain trusted financial data, banks need to ensure data quality and monitor risk exposures.
IBM software does the job for you, so you can meet the expectations of customers, shareholders, and regulators. IBM delivers a progressive framework for integrated risk management that allows you to deliver value more quickly.
What IBM offers
The Integrated Risk Management solution has four areas containing specific projects that address the needs of each area. Select your highest priority projects and add others as you need them.
Financial Risk
Connecting all your business and financial information systems enables risk reporting across the enterprise to enable better risk decision making. With real-time data and analytics, you gain:
- Risk insight and control in real time.
- A centrally managed repository of financial risk data.
- Risk and finance processes for business modeling and strategy execution.
- Risk scenarios you can test in a safe environment.
Financial Crimes Detection and Prevention
Identify fraudulent activity before it happens with proactive monitoring and investigation tools. When you implement an integrated fraud detection and prevention platform, you can monitor different types of transactions (ATM, remote banking, and wire transfers) across multiple channels.
- Streamline auditing and reporting processes.
- Report suspicious transactions in compliance with OFAC, PEP, AML, the Banking Security Act, and Know Your Customer.
- Reduce costs with automated fraud prevention.
Operational and IT Risk
Improve operational risk management by implementing early warning systems, crisis management processes, and business recovery planning. Increase visibility into IT operational indicators with real-time monitoring and analysis.
- Manage access to business-critical applications.
- Automate policy-based user roles, identities, and access rights.
- Enforce process standards and controls across organizations.
- Manage workflows with auditable approvals and escalations.
Governance and Compliance
Having a foundational structure for meeting regulatory compliance requirements helps banks reduce costs and better manage ever-changing regulations. Improve your financial reporting with trusted data.
- Provide a sustainable and traceable complaints resolution system.
- Identify market conduct breaches and prevent recurrence.
- Ensure the safety of depositors’ funds with Prudential compliance.
- Use compliance frameworks to stay up to date with regulations.
Key products for Integrated Risk Management solutions
IBM has proven enterprise software products for the banking industry. Here are some of the key products, which are used by leading financial institutions worldwide:
- Cognos Business Intelligence (BI)
- Cognos FIRM
- Cognos Now!
- InfoSphere Data Warehouse
- InfoSphere Identity Insight
- InfoSphere Smart Analytic System
- ILOG Business Rule Management Systems (BRMS)
- Tivoli Access Manager
- WebSphere Business Events
- WebSphere Enterprise Service Bus (ESB)
Learn more
To learn more about how IBM Banking Industry solutions can help your business grow, contact your IBM representative or IBM Business Partner.
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Integrated Risk Management Solutions for financial institutions
Solution brief
Gain an enterprise-wide view of risk across multiple areas with the Finance and Integrated Risk Management (FIRM) solution (PDF, 4.56MB).