TANDEM SYSTEM COUNTS RISKS
By Adnews Staff
Tandem Computers Canada, Ernst & Young and Algorithmics have joined forces to develop a hardware and software system that will assess risks for companies on the move. Developed for financial institutions, the system will be run around the world 24-hours-a-day, and will be available next summer. Tandem will manufacture the hardware, Algorithmics will provide the software and Ernst & Young will serve as consultant. Called Enterprisewide Risk Information Centre, the product will give financial institutions more control over potential losses. In addition it will provide a base for evaluating new business opportunities, and adding value to trading profitability. The five major risk types are market, credit, legal, liquidity and operational. Marketing plans have not yet been divulged.