This includes new software and algorithms from IBM's Zurich Research Lab . ORX says the tools will help its member banks perform richer analysis of disparate data and make more informed business decisions. As a result of these new analytics capabilities, member banks will be able to perform 'what-if' scenarios and make correlations across a broader array of data than previously possible, and in turn, more effectively allocate the right resources to address compliance needs based on the outcomes.
For example, if regulators ask a small community bank to deliver loss projections for 2008, the bank can access the ORX database today and obtain loss data including information from larger banks. However, the small bank may not be able to make sense of all the larger banks' data in the context of its own compliance efforts. Using IBM's analytics technology, that small bank will be able to perform extensive analysis on the same data including and make direct correlations to see how they apply to their business.
Separately, IBM has announced that Bank of New York has implemented its consolidated event management architecture and tools. As part of a process to standardise its technology infrastructure environments, the Bank integrated several IBM event management tools across its organisation, including the Tivoli Enterprise Console (TEC), Tivoli Business Systems Manager (TBSM) and Micromuse Netcool Omnibus tools.
The bank worked with IBM to determine the optimal implementation strategy and integrated the TEC and Omnibus products to provide a consolidated view of the combined infrastructure environment. The Bank also integrated the Omnibus product with TBSM to support future business service management efforts, enabling a more business focused view of the technology infrastructure environment.