IBM Announces Planned Acquisition of Promontory to Transform Regulatory Compliance with Watson - Seite 2

Promontory will begin to accelerate IBM's development and machine training of cognitive solutions for risk and compliance. This includes solutions for tracking constantly changing regulatory obligations, expectations and control requirements, as well as solutions that address specific compliance needs, such as financial risk modeling, surveillance, anti-money laundering (AML) and Know Your Customer (KYC). In addition, Promontory professionals will extend IBM's consulting and services offerings to help clients dramatically reduce the cost of regulatory compliance.

"We believe the future of business and regulation will be driven by the need for advanced technology alongside deep subject-matter expertise," said Eugene Ludwig, Promontory's founder and CEO. "Combining Promontory's expertise with IBM's extraordinary technological capabilities such as Watson will permit us to directly address our clients' greatest challenges in innovative and powerful ways. It will enhance our mutual commitment to risk management and regulatory compliance excellence, and our results will benefit customers and the overall financial system."

Promontory will operate as a wholly owned subsidiary of IBM.  The planned acquisition represents the first example of new capability from IBM's Industry Platforms business, launched in August. The new business was formed to build open vertical platforms – the first comprehensive "as a service" offerings designed from the ground up for individual industries. These platforms will integrate IBM Cloud, Watson and capabilities from across digital ecosystems of specialized providers, and serve multiple clients in an industry – delivering dramatically reduced costs for outcomes spanning speed, quality, audit-ability, security and transparency.

Promontory is headquartered in Washington, D.C. and has 19 offices in North America, Europe, Asia, Australia, and the Middle East. The planned acquisition is expected to close in late 2016 and is subject to applicable regulatory review and customary closing conditions. Financial details were not disclosed.

For more information visit ibm.com/

IBM Media Relations
Karen Davis
[e-mail] 
Tel: [phone]

Promontory Media Relations
Stephanie Allen
[e-mail] 
Tel: [phone]

¹ Tech and Finance, 2016
² McKinsey Global Banking Pools, 2016