Autonomy (News - Alert), an HP company, recently announced the launch of a new cloud-based solution which will enable financial institutions to address reporting and regulatory requirements as specified under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
In a statement, George Tziahanas, vice president of Legal and Compliance Solutions at Autonomy, an HP company, said that, "The record keeping and associated regulations issued under Dodd-Frank for the derivatives markets impose significant new information governance challenges. Autonomy's ongoing leadership in this market has led major institutions, which represent major swap participants and dealers, to select Autonomy's extended compliance platform to help address their obligations"
Financial institutions are required to address a number of information governance challenges to achieve compliance. To help address the challenges, Autonomy's compliance solution, which is Intelligent Data Operating Layer (IDOL)-based, has been developed to automatically grasp concepts, ideas, and patterns within trade-related data. This allows customers to quickly index, categorize, and retrieve the information in accordance to compliance regulations as specified under the Dodd-Frank act.
The Autonomy solution for addressing Dodd-Frank regulations incorporates a number of leading technology solutions that have been designed to function seamlessly and cost-effectively. The solution allows administrators to easily manage Dodd-Frank compliance-based records-management projects via easy to use workflows and templates.
Products included within the solution include - the HP Application Information Optimizer which allows safe extraction and indexing of structured data from production or legacy systems, and easy processing of records for the purpose of retention and archiving; and the HP Autonomy Consolidated Archive which can archive data on premises and in the cloud through appliances, and includes the only intelligent governance layer in the industry designed to allow businesses to become compliant.
The Autonomy solution also makes use of the HP Converged Cloud to provide customers access to HP's cloud data centers for running and supporting their mission-critical applications and operations.
Edited by Brooke Neuman