On Thursday, IBM announced it has acquired aggregation and analytics software provider Armanta. IBM reported it has worked with Armanta for the past two years to deliver financial risk solutions to clients globally. The combination of IBM’s and Armanta’s technology and expertise has allowed IBM to deliver new offerings that have already been adopted in the market.
“For financial institutions around the world, the addition of Armanta will enable IBM to more effectively manage regulatory mandates by using a common aggregation and reporting solution across multiple risk systems, regardless of whether they are developed in-house or are supplied by a vendor. Clients can also use Armanta to build their enterprise reporting solutions on top of existing analytics. Their powerful aggregation technology will complement current IBM solutions providing clients with the most effective tools for financial risk. Armanta also provides the ability to instantly visualize complex analyses and different “what-if” scenarios in a secure, sandbox environment, allowing users to act decisively.”
IBM also stated that With this acquisition it will help clients further integrate their risk management practices with other front or back office functions, while also establishing a common set of data, analytics, and reports for business-wide consistency. IBM added that post-acquisition it will integrate the Armanta business as part of the Watson Financial Services portfolio, which will further strengthen IBM’s financial risk analytics service.