February 10, 2012, 3:12 AM — ING is expanding its use of in-memory business intelligence analytics, using a real-time system from supplier Quartet FS.
The Dutch Bank is rolling out the ActivePivot system to its credit card department for collateral management and credit value adjustment.
ING already uses ActivePivot for managing market risk and profit & loss validation, but the bank said that the expanded rollout marks the first time that it has used in-memory analytics for operational challenges.
ActivePivot will be used to replace multiple risk applications, saving money and improving flexibility, ING said.
Marnix van Stiphout, ING managing director, said: "We implemented ActivePivot in order to manage our market risk in a proactive, actionable and analytical way.
"However, we have recognised the solution's powerful potential in helping us solve a number of other operational issues across the business at a much lower cost than the industry's traditional approach.
"As a result, we have set up a Centre of Excellence which is responsible for implementing ActivePivot in other parts of the bank."
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