The Cognos-IBM risk-adjusted profitability blueprint provides a performance management framework that helps bank executives build precise multidimensional, product-level profitability plans and forecasts that are aligned with risk management strategies, enabling greater financial planning accuracy and building a critical connection between the finance and risk organizations.
Anchored on Cognos 8 Planning, Cognos 8 BI and coupled with IBM’s banking data warehouse, the Cognos-IBM risk adjusted profitability blueprint capitalizes on the financial services domain expertise provided by IBM global business services to deliver an intuitive planning and reporting environment.
June Felix, general manager for banking solutions and strategy at IBM, said: Banks require core banking systems that are integrated, open, flexible, scalable and secure. The integration of IBM’s banking data warehouse with Cognos 8 Planning and BI will help customers achieve a comprehensive, integrated view of their core banking business in order to drive increased profits and shareholder value.
Francis McKeon, financial services industry director at Cognos, said: IBM and Cognos share a common vision for providing cost-effective solutions that enable banks to identify, report on and analyze the costs of trade, performance, risk management, compliance and profitability, among others. Through this joint offering, banks will finally be able to synchronize profitability plans with relevant risk scenarios, minimizing discrepancies between projected and actual financial results. This new blueprint offers a significant head start in helping banks boost profitability with a complete understanding of the credit and operational risks at play.
