We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
78,713 News Articles

ING banks on in-memory analytics

ActivePoint collateral management to replace legacy software

ING is expanding its use of in-memory business intelligence analytics, using a real-time system from supplier Quartet FS.

The Dutch Bank is rolling out the ActivePivot system to its credit card department for collateral management and credit value adjustment.

ING already uses ActivePivot for managing market risk and profit & loss validation, but the bank said that the expanded rollout marks the first time that it has used in-memory analytics for operational challenges.

ActivePivot will be used to replace multiple risk applications, saving money and improving flexibility, ING said.

Marnix van Stiphout, ING managing director, said: "We implemented ActivePivot in order to manage our market risk in a proactive, actionable and analytical way.

"However, we have recognised the solution's powerful potential in helping us solve a number of other operational issues across the business at a much lower cost than the industry's traditional approach.

"As a result, we have set up a Centre of Excellence which is responsible for implementing ActivePivot in other parts of the bank."

TOP BANKING NEWS:

JP Morgan, BoA and Wells Fargo sued over 'fraudulent' mortgage IT system

Misys and Temenos merger confirmed

IT fears as Lloyds Banking Group cuts nearly 1,000 jobs

Credit Suisse traders 'manipulated IT systems' to hide losses


IDG UK Sites

5 things we want to see in Android M: New features and fixes

IDG UK Sites

iPad mini 3 release date rumours: 'iPad mini Air' will be 30 percent thinner than current model

IDG UK Sites

Introducing generation tech

IDG UK Sites

This animated film reveals the importance of designing for everyone