In-memory analytics software now deployed for collateral management and credit value adjustment.
Quartet FS has announced that ING will roll out ActivePivot analytics to its credit department.
ING previously used the software for profit and loss validation, and monitoring market risk. The extension will now see it deployed to monitor credit value adjustment and collateral management.
"We implemented ActivePivot in order to manage our market risk in a proactive, actionable and analytical way" says Marnix van Stiphout, managing director at ING. "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."
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