Cooperation between the Zurich University of Applied Sciences Winterthur and IRIS AG
Added: (Wed Jan 11 2006)
Pressbox (Press Release) -
Zurich, January 2006 -- IRIS integrated risk management ag Zurich (IRIS AG) and the Institute for Data Analysis and Process Design (IDP) of the Zurich University of Applied Sciences Winterthur have agreed to work together in the integrated risk and profitability analysis area. The integrated risk analysis infrastructure riskpro™, which has been offered to the banking sector worldwide for over ten years, shall be enhanced for other fields.
IRIS AG is among the leading suppliers of integrated risk and profitability analysis solutions worldwide. The IDP is an acknowledged leader in analysis and modeling of complex stochastic systems using quantitative methods. This project has a strategic dimension for both partners. Knowledge and technology developed in the framework of the project will not only be useful for IRIS AG but also be incorporated in the contents of the bachelor’s program of financial engineering and financial mathematics of IDP.
The heads of the project are Dr. Willi Brammertz (IRIS AG), the “father” of riskpro™, and Prof. Dr. Wolfgang Breymann (IDP), an internationally recognized scientist and developer of financial market applications.
This cooperation is an example of a useful symbiosis between “real-world” economy and research. On one hand, it allows the IDP to successfully fulfill its research and development mandate at international level, from which IRIS AG will benefit On the other hand the Institute gets the opportunity to use riskpro™ in its academic program. The simulation capabilities of riskpro™, comparable to those of flight simulators used to train pilots, open new perspectives for the banking courses.
The cooperation is supported by the Federal Innovation Promotion Agency CTI. CTI aims to make the expertise developed by universities accessible to enterprises, especially small and medium sized ones. Cutting-edge research and development are critical for their success. With this approach Switzerland wants to secure a long-term leading position in the high technology sector.
About IRIS AG
IRIS integrated risk management ag (www.iris.ch), formed in 1992 in Zurich, has its headquarters in Switzerland. It continuously develops, maintains and supports its riskpro™ financial analysis infrastructure out of Switzerland since 1997. Selling, implementation and consulting are executed worldwide directly by IRIS AG and indirectly in cooperation with a number of partners such as Accenture, Atos Origin, d-fine, NCR Teradata Financial Services, Tata Consultancy Services, etc.
About riskpro™
riskpro™ enables financial organizations to measure and monitor risk and profitability enterprise-wide with a single cost effective integrated analysis infrastructure. riskpro™ covers ALM, market and credit risk analytics including Exposure Analysis, Value at Risk, Funds Transfer Pricing, Dynamic Simulation, Basel I and II, Risk-Adjusted Performance Analysis, IFRS 39, etc. These analyses cover all financial products, from saving accounts to exotic options, for any type of accepted valuation method. The underlying universal contract-centric data model and calculation engine of riskpro™ ensures precision and consistency in all results. riskpro™ is currently being used or implemented in over 200 small to large financial organizations in 15 countries.
About IDP
The IDP, founded in 2001, has been one of the first research institutes of the Zurich University of Applied Science Winterthur. Today the staff comprises internationally recognised experts from natural science, statistics, mathematics, economy and engineering. The institute realizes applied R&D projects where data analysis and/or dynamic-stochastic modelling play a central role. Besides its R&D activities the institute is establishing the Bachelor study course in industrial engineering at Zurich University of Applied Science Winterthur.
Contact information
PD Dr. Wolfgang Breymann
Zurich University of Applied Sciences Winterthur
Institute for Data Analysis and Process Design
+41 (0)52 267 7814
wolfgang.breymann@zhwin.ch
http://www.idp.zhwin.ch/
Florencia Delia Schmidt
IRIS integrated risk management ag
+41 (0)44 388 59 59
iris.info@iris.ch
www.iris.ch