Teradata's Enterprise Risk Management Solution

by CXOtoday Staff    Jun 29, 2006

Teradata, a division of NCR Corporation, has announced the introduction of the Teradata Enterprise Risk Management solution.

The solution provides an integrated data management platform, which includes the Teradata Warehouse 8.1, a suite of hardware, software and professional consulting services. In addition, the solution is supported by Teradata Financial Services Logical Data Model and partnerships.

Jim Donovan, VP - global industry solutions for financial services, Teradata said, “Teradata is focused on enabling financial services executives to transform compliance issues from a management migraine into a strategic opportunity. The Teradata Enterprise Risk Management solution creates a single, authoritative data environment to ensure accuracy, consistency and auditability across business lines. With this approach, the management of risk becomes one of the most compelling opportunities organizations have today for achieving innovations that will accelerate growth and drive operational efficiency.”

Many financial institutions deploy an enterprise data warehouse, which creates a single view of the business and customers. With centralized data and powerful analytic software, financial service providers can then identify the best opportunities for profitable growth while meeting regulatory requirements with confidence.

Vincent Oliva, managing VP, Gartner said, “The pressure is on financial service providers to create a competitive differentiation instead of just meeting compliance requirements. Those that can quickly respond are most likely to be successful during the next few years. It is time for financial service providers to start treating risk management as a proactive discipline that creates an environment in which regulatory risk doesn’t unnecessarily thwart business growth and profitability.”