Optial launches business intelligence module for op risk

Module helps firms prove the value of their op risk management systems

LONDON – Software firm Optial has launched Optial Business Intelligence (OBI) in conjunction with the release of version 6.0 of the Optial Operational Risk platform.

The existing Optial platform has built-in KRIs and a loss database that allow firms to align their system with Basel II requirements for operational risk management. The new module makes it easier, according to Optial, to find and prove value from operational risk management initiatives – something that op risk managers are increasingly being asked for.

“OBI is a very major enhancement to the Optial platform. It enables managers to identify key risk indicator trends, analyse weaknesses and create quantifiable business cases for initiatives aimed at improving the quality of management of the wide variety of operational risks with which any institution is faced,” says Judith Graham, product director of Optial. “Analytical slice-and-dice techniques, high-quality graphics, the rich reporting functionality and a simple user interface together mean that true operational risk business intelligence is now only a click away. At the same time, sensitive data continues to be fully protected using Optial’s stringent access-control model. Detailed cube analysis is complemented by one-click dashboard reports with drill-through, which are designed to give line managers maximum information with minimum fuss, using industry-standard technologies built to support large data volumes.”