BP applies for patent

In late August, Basis Point, an investment operations performance consultant, announced the application for a patent of their methodology and systems for assessing operational process quality and risk. The patent, according to the firm, underpins their structured operational performance evaluation and risk assessment methodology (OPERA). "Basis Point Group has developed, utilised and refined the methodology underlying the patent over the past nine years while managing complex client projects. OPERA has proven effective in evaluating operational risk, identifying actionable measures that improve front, middle and back office operations, and providing a sound basis for measuring the effectiveness of IT application systems. We have applied for the patent to formalise the OPERA methodology following post-engagement discussions with senior executives from a number of firms," said Bob Fawls, managing partner.