Algorithmics Signs Partners For Risk Management Plan

Algorithmics Inc. has launched a partner program to help financial institutions using its risk management software.

Called AlgoIntegrator, the program is designed to give clients extra resources and support for project implementation.

Four systems integrators, all with experience in financial risk management technology, are participating: American Management Systems, Deloitte & Touche Consulting Group, Ernst & Young's risk management and regulatory practice, and International Business Machines Corp.

Harvey Gordon, vice president of business development at Algorithmics, said he expects the number of partners to grow to eight by yearend.

"There is a need for more implementation capabilities and a need to establish standards," he said.

In joining the AlgoIntegrator network, the four companies are licensing Algorithmics software and using it to train consultants who will help banks install and use the system.

Deborah Williams, research director of Needham, Mass.-based Meridien Research Inc., said she considers Algorithmics a top provider of market risk analysis technology.

She said the new program formalizes relationships with systems integrators that Algorithmics had cultivated for some time.

"AMS and IBM have been installing Algorithmics products for years," she said. "I suspect it is in response to Cats' creating a consulting team whose purpose is integration." Cats Software Inc. is an Algorithmics competitor.

Each of the four partners has assigned employees to Algorithmics for training on its software. Mr. Gordon said he expects 150 engineers to be certified by yearend.

Toronto-based Algorithmics has 55 customers, including Republic New York Corp., KeyCorp, Bank of New York Co., and Citicorp Asset Management.

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