Alveo and Finmechanics unveil an integrated solution to accelerate FRTB implementation and boost operational efficiency
3 August 2020 – Alveo and Finmechanics have announced a new technology partnership to provide banks with an accelerated approach to The Fundamental Review of the Trading Book (FRTB) preparedness, both standardized approach and internal models approach (IMA) and other regulatory imperatives. Non-modellable risk factors and profit and loss (P/L) discrepancies, in particular, can be quickly identified and addressed. The solution tightly integrates data management with risk analytics, providing new standards of agility and operational efficiency.
Alveo is the leading provider of financial data integration and mastering solutions. Its cloud-based solutions provide data quality, data lineage, and easy access to the contextual information required for risk, operations, and compliance.
“Partnering with a fast-growing fintech such as Finmechanics is a key accelerator in our journey to provide the financial industry with data quality and analytics solutions leveraging cloud technology,” says Mark Hepsworth, Chief Executive Officer at Alveo. “Finmechanics’ financial libraries and integration capabilities are ideal companions of our platform. Together they enable a minimum-disruption approach delivering substantial change cost-effectively”.
Finmechanics is a challenger fintech, creator of FM Converge, the next-generation, microservice oriented treasury, and risk platform and a specialist of FRTB implementations. “The triple challenge of FRTB involves data integrity, extremely fast performance demands and flexible business processes”, says Anindya Sarkar, CEO of Finmechanics.
“By coupling FM Converge to the Alveo’s enterprise data platform, the solution builds on data integrity across the trading desks, which allows us to immediately focus on non-modellable risk factors and start optimizing the SA/IMA desk configurations as quickly as possible”, he adds.
In addition to FRTB solutions, the partners also provide solutions for enterprise projects such as the transition to new interest rate benchmarks, counterparty credit risk, and end-to-end digitization of banks’ services.
About Finmechanics
Headquartered in Singapore with offices in six countries, Finmechanics provides banks with highly-precise and transparent valuations, risk management, and regulatory compliance, as well as end-to-end digitized trade workflows. Its microservices-inspired approach helps firms to simplify their organization and operate as seamlessly on the cloud as on-premise.
To learn more about its technology, integration, and advisory services, please visit https://www.finmechanics.com.
About Alveo
Alveo is the market leader in data quality software solutions for financial data. Focused on business user enablement, we help clients simplify complexity and ensure users across buy-side and sell-side make the most of their data assets by providing easy data integration, data cleansing, distribution, and data discovery solutions.
We service a blue-chip client base globally and our award-winning solutions provide rigorous processes to secure high-quality data, easy integration into business user workflows, and a trusted environment for advanced analytics. Delivered through managed services, cloud or on-premise deployment, our highly scalable products help the world’s most successful financial institutions meet their risk management, valuation, security master, and operational needs with mission-critical reliability.
For more information, please visit www.greshamtech.com/products/prime-edm
*Please note: This press release was originally published under Alveo Technologies. As of the publication date, Alveo Technologies is now known as Prime EDM under Gresham. Any prior Alveo content has been updated to reflect Gresham's current branding and offerings.