Approximately 900 Algorithmics employees to join IBM’s Software Group
IBM has acquired software provider Algorithmics and with the acquisition IBM expands its business analytics capabilities in the area of financial risk.
Algorithmics provides software and services for improved business insights at banks and investment and insurance organisations to assess risk and address regulatory challenges.
The combination of Algorithmics’ capabilities with IBM’s recent acquisition of OpenPages, gives clients a full array of financial and operational risk technology offerings and services.
Companies can measure and assess operational risk associated with lending processes, market and credit risk exposures with IBM and Algorithmics’ advanced analytics technologies and improved business processes.
Organisations can quantify, manage and optimise their risk exposure across a range of financial risk domains, including market, liquidity, credit, operational and insurance as well as economic and regulatory capital with the help of technologies and business processes.
With this acquisition, approximately 900 Algorithmics employees will join IBM’s Software Group, said the company.
IBM Business Analytics general-manager Rob Ashe said integrated risk management continues to be a challenge across insurance and financial services industries, as data grows in complexity and new regulations continue to be introduced to address financial market trends.
"The combination of Algorithmics and recently acquired OpenPages, along with IBM’s deep analytics expertise, delivers a comprehensive approach to managing risks, enabling clients to make better business decisions faster," said Ashe.
In addition, IBM also introduced 55 new and updated server and storage technologies that are designed to help clients gain actionable insights from data, increase IT capacity and deliver new services faster to create profitable business opportunities.
The new and enhanced offerings include affordable business analytics systems, automated tools for implementing security and compliance standards, and starter kits for establishing private clouds. The new offerings address these challenges with smarter computing technologies for business analytics, integrated storage, optimised systems and virtualised data centres.