Algorithmics and Whitelight Form Alliance to Deliver Enhanced Decision Support Solution to Manage Credit and Market Risk Across the Enterprise
Algorithmics Incorporated has announced an alliance with WhiteLight Systems that will provide Algo Suite customers with a comprehensive and flexible decision support solution for the enterprise that goes beyond operational and desk level reporting.
The inclusion of the WhiteLight analytic server with Algo Suite provides users with easy access to the sophisticated results stored in RiskWarehouse, Algorithmics' risk results database. Clients will be able to retrieve and combine data from other proprietary relational database systems, such as back-office P&L, trading systems, or risk limits databases. Flexible data manipulation tools make it easy to sort and consolidate data.
"When it comes to managing risk and minimizing losses, users want the ability to view risk components from many different perspectives and then be able to 'slice and dice' across any dimension," commented Dr. Ron S. Dembo, president and chief executive officer of Algorithmics. "Risk managers can now readily respond to ad-hoc queries and conduct time-series reporting to provide senior management with the information they need."
The combined solution offers superior performance and is perfect for financial organizations with large databases. A sophisticated caching system keeps track of common data requests such that subsequent queries can be retrieved from cache memory rather than re-executing requests.
An easy-to-use, "drag and drop" GUI interface to the underlying database eliminates the need for complex SQL queries to retrieve data and minimizes report development and maintenance time. "The WhiteLight Analytic Application Server is unique in its ability to determine which risk measures are additive and those which cannot be added within a hierarchy," said Chip Goodman, vice president of business development at WhiteLight. "The software's advanced business rule modeling features ensure that the correct aggregation algorithms are applied, regardless of the risk measures and hierarchies chosen. And because business rules are stored centrally within the WhiteLight Server, changes can be made quickly and easily."
Since WhiteLight supports OLE DB for OLAP compliant tools, clients can leverage their existing enterprise reporting capabilities. Users have the ability to produce reports using their tool of choice, including most commercially bought software such as Microsoft Excel.
About Algorithmics
Algorithmics was founded in 1989 as a response to the complex issues surrounding financial risk management for the enterprise. As the leading software provider with the most experienced team in the industry, Algorithmics continues to focus its efforts on creating and implementing enterprise risk management software that meets the evolving needs of its customers. Headquartered in Toronto, with 13 offices around the world, Algorithmics serves more than 75 global financial institutions and corporations.
About WhiteLight
WhiteLight Systems, Inc. develops and markets the industry's first Analytic Application Server, the foundation for a new class of applications that support Integrated Decision Processing (IDP). IDP is a new approach to decision making in large enterprises -- combining the process automation of ERP software with the analysis capabilities of OLAP. IDP moves beyond information delivery, and simple query and analysis, to delivering end-to-end systems for automating complex business decision processes. WhiteLight is a privately-held company based in Palo Alto, California, with European headquarters in Bracknell, UK. For more information about WhiteLight Systems, visit their web site: http://www.whitelight.com.