VANCOUVER, BC / ACCESSWIRE / November 15, 2016 / BlackIce Enterprise Risk Management Inc. (CSE: BIS) (BlackIce), BlackIce is pleased to announce it has commenced a new initiative to enhance the BlackIce Enterprise Stress-Testing (BEST™) solution to become the state-of-the-art stress-testing platform that leverages cognitive computing for institutions of all sizes globally.
The Company's BEST solution will be re-engineered from the ground-up, offering a full end-to-end stress-testing suite, leveraging emerging machine-learning and cognitive computing platforms to automate, learn and enhance the stress-testing process. Our aim is to develop a cognitive platform that is able to automate the statistical modeling of credit and default, enabling future applications beyond stress-testing alone.
Utilizing our strong partnership with IBM, BEST will be offered through a SaaS (Software as a Service) model on various cloud platforms and leverage the IBM Watson environment as the primary cognitive computing API. BlackIce believes that by providing a solution that delivers the capability for more complex, intuitive and "self-learning" stress-testing, institutions of all sizes will use the latest technologies to obtain a greater insight into their risks, and ultimately make better decisions for their institution.
While our initial market focus will be on small to mid-size institutions, we also see an opportunity for larger institutions to utilize a stress testing cognitive computing solution; as such, both opportunities allow the flexibility to license our technology and create a scalable revenue stream.
Utilizing the expertise of our BlackIce advisory board (which includes world-renown experts in financial regulatory development), we have the ability and knowledge that will enable the BEST solution to provide a comprehensive, industry-leading approach to stress-testing. Our experience with the stress-testing process in dozens of institutions globally will result in development of the most robust, automated product on the market today. As development continues we will announce more detailed information about the BlackIce Enterprise Stress-Testing (BEST) solution.
About BlackIce Enterprise Risk Management Inc. (CSE: BIS)
BlackIce is a software technology and consulting firm, specializing in global enterprise risk management for the financial services industry. BlackIce software solutions are open platform applications that deliver end-to-end data and analytical standards that meet international regulatory reporting and monitoring requirements.
BlackIce Enterprise Risk Management Inc. is a publicly-traded company listed on the Canadian Stock Exchange (CSE); trading symbol BIS (C.BIS or BIS.cn). For more information about our companyplease visit www.blackiceinc.com or phone us at 1-604-510-4505.
BlackIce Enterprise Risk Management Inc.
Judy Kalyan
CEO, Chair
Forward-Looking Information
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of BlackIce Enterprise Risk Management Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The CSE has not reviewed, approved or disapproved the content of this press release.
SOURCE: BlackIce Enterprise Risk Management Inc.
ReleaseID: 449030
