ITRS Group partners with Velocimetrics to help firms meet increasing regulatory expectations
ITRS Group (“ITRS”) the leading provider of real-time monitoring, has announced a partnership with Velocimetrics, a leader in real-time business insight to the global financial community. This will enable ITRS Geneos customers to independently track and analyse the real-time performance of every trade or payment traversing business critical processes and improve operational resilience.
High profile outages in 2018 have made operational resilience a key issue for firms and regulators alike. This month the PRA/FCA/Bank of England published a joint discussion paper calling on firms to develop contingency plans to prevent, respond to, recover and learn from operational disruptions.
Mark Loader, Director of Product Management, Marketing & Partners at ITRS, said:
“With operational resilience firmly on the agenda of regulators, we are using our years of experience to build, buy and partner to offer customers the best solutions to achieve operational excellence. Our purchase of Sumerian and partnerships with Apica and Velocimetrics are delivering on that strategy to meet customer needs for automation, cloud and machine learning to prevent failure and reduce costs.”
“Our partnership with ITRS will combine both of our leading solutions and experience to help customers achieve a higher level of operational resilience" said Steve Colwill, CEO at Velocimetrics. "The huge cost of outages to firms both financially and reputationally continues to increase to a point where they risk their ongoing viability to exist in serious cases. Solutions such as ours will enable firms to not only reduce that risk, meet the expectations of the regulators but gain a competitive advantage over their peers."