IBM Wraps Up Algorithmics Acquisition Growing Business Analytics Portfolio
IBM has closed its acquisition of Algorithmics, a firm providing software and services for improved business insights at banks and investment and insurance organizations to assess risk and address regulatory challenges.
IBM said the acquisition will expand the company’s business analytics capabilities in the area of financial risk. IBM recently acquired OpenPages and the combined acquisitions add to IBM’s financial and operational risk technology offerings and services.
“Integrated risk management continues to be a challenge across insurance and financial services industries, as data grows in complexity and new regulations continue to be introduced to address financial market trends,” said Rob Ashe, IBM’s general manager of business analytics. “The combination of Algorithmics and recently acquired OpenPages, along with IBM’s deep analytics expertise, delivers a comprehensive approach to managing risks, enabling clients to make better business decisions faster.”
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