Netherlands' Rabobank International Selects HP Autonomy for Dodd Frank Compliance
Global Banking Institution Relies on HP Autonomy for End-to-End Document Life Cycle Management
PALO ALTO, CA--(Marketwired - Apr 22, 2013) - HP (NYSE: HPQ) -- HP Autonomy today announced that Rabobank International, the wholesale, rural and international retail banking division of Rabobank Group, has selected the Autonomy Enterprise Content Management (ECM) solution to meet regulatory obligations and drive business efficiency.
HP Autonomy's technology will provide a single, end-to-end information governance platform for regulatory record management, and help increase trading efficiency by automating key front- and back-office processes.
Rabobank Group is a leading global financial institution based in the Netherlands, boasting a network of more than 530 business locations in 30 countries. Rabobank International offers a wide range of financial services to individuals and businesses, including over-the-counter derivatives, foreign exchange, money markets and securities.
Financial institutions must remain compliant with a host of legislations and regulations. HP Autonomy provides a single, end-to-end platform through which Rabobank International can manage its trade-related records in a defensible and compliant manner. Autonomy ECM can intelligently apply important classifications such as the legal entity identifier (LEI) and unique swap identifier (USI), and bind the records ready for hand off to the regulator. This will save time and mitigate risk for the bank, ensuring that compliance processes are comprehensive, defensible and less resource-intensive.
The HP Autonomy platform will enable Rabobank International to comply with the Dodd Frank Act's reporting and record-keeping requirements. The bank can capture all pre- and post-trade records from both Rabobank International's transactional systems, as well as the unstructured, human information found in emails, voicemails and Microsoft® Office documents.
In addition to better managing its risk and meeting regulatory requirements, Rabobank International wanted to improve operating efficiency by automating several key document-management practices. These include processes like term sheets, legal agreements and trade confirmations from across the sales, trading operations, legal and credit teams. These activities will be automated using products from the Autonomy ECM Platform, including TeleForm, Autonomy Process Automation, Intelligent Enterprise Search, Scrittura and WorkSite, which all form part of HP Autonomy's Information Governance solution.
"HP Autonomy provides financial institutions with the solutions they need to take control of their information for compliance, efficiency and, ultimately, competitive advantage," said Neil Araujo, general manager, Enterprise Content Management, HP Autonomy. "Autonomy enables financial institutions to address new regulatory needs and challenges, identify and manage risks and streamline business processes, through intelligent automation and advanced information management."
Additional information about HP Autonomy is available at http://www.autonomy.com/.
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