PRISM
Distributed computing framework specialized in financial risk calculation
About this app
PRISM is a technical solution for optimizing distributed computations for banks, that are facing increasing computational needs in a context of cost reduction. Users keep their own legacy systems, and access PRISM services via dedicated connectors to perform their calculations: libraries, data, algorithms etc. PRISM provides a secure technical framework to connect each of the existing tools to a computing grid and a range of solutions adapted to optimize its operation and can be adapted to the different user profiles on the market, whether the customer owns the computing grid or not, thanks to its configurable workflow and user-friendly interface.
The number of regulations and their complexity has increased the cost of compliance and the associated resources required to keep in conformity. Regulations such as the FRTB even have an implementation deadline of January 2022. To face this rise of complexity in regulations and risk calculations, organizations have started to adopt cloud technology, but the transition is complex.
Cost reduction
With PRISM, reduce the operational cost associated with manual processes and automate your risk calculations, reducing time and errors. PRISM enables drastic cost reductions by optimizing workload and minimizing data and computation management costs, in a world where compliance represents around 10% of their operating costs for most banks.
Simple and secure
Taking advantage of advanced cloud orchestration technologies, PRISM can be easily implemented to any existing system and deployed very rapidly. Data is anonymized and encrypted at rest and in transit. Decryption is only in memory (never on disk) upon calculation on shielded containers.
Timely regulatory support
With PRISM, the required calculations will come directly to the FIs for timely filing of statutory reports. The bank can ensure that it is compliant with the law without time constraints being an issue. The application supports FRTB market risk regulations out of the box.
