Primatics Financial and Fiserv Extend Their Partnership to Offer Stress Testing Solutions to Leading National and Community Banks
McLean, Virginia – December 4, 2014 – Primatics Financial, a leader in integrated risk and finance solutions, today announced it is expanding its partnership with Fiserv, Inc., a leading global provider of financial services technology, to offer financial institutions advanced stress testing solutions in support of macroeconomic and regulatory stress testing.
The Primatics EVOLV® Suite is the only web-based, macroeconomic stress testing solution that supports the entire stress testing process from model execution to loss estimation to GAAP compliant accounting forecasting – all supported with a robust and sophisticated business intelligence tool allowing for extensive reporting and analytics.
“This expanded partnership with Fiserv is continued evidence of Primatics’ pioneering new solutions to meet the evolving needs of financial institutions,” explained Eric Wazorko, Vice President of Alliances at Primatics. “Financial institutions have a growing demand for stress testing solutions whether as a result of regulatory requirement or as a matter of compliance with industry best practices. We are pleased to be teaming with Fiserv to offer our mutual customers an innovative and flexible enterprise stress testing solution to meet the challenges of today and the evolving challenges of tomorrow.”
Financial institutions face significant challenges in meeting today’s regulatory expectations around stress testing including forecasting based on macroeconomic conditions, compliance with standards, explanation of results and execution of a controlled process. Financial institutions not required to participate in the demanding stress tests called for by the Dodd Frank Act or as part of the CCAR exercise are still expected to have the capability to analyze the impact of adverse macroeconomic scenarios. Executing these stress tests requires bringing together detailed loan data, macroeconomic scenarios, risk models, accounting forecasting and detailed reporting and analytics in an efficient and controlled manner. Through this unique offering, financial institutions will be provided concentration analysis, macroeconomic stress testing and scenario analysis and accounting forecasting (including data required by the CCAR and DFAST stress testing templates).
This year, Fiserv Inc. (NASDAQ: FISV) celebrates 30 years of leadership in financial services technology. As one of FORTUNE® magazine's World's Most Admired Companies, Fiserv is helping clients worldwide achieve best-in-class results by driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com. About Primatics Financial Primatics addresses a financial institution’s most complex risk and finance challenges with EVOLV®, our open platform with integrated solutions. Built by industry experts, EVOLV® uniquely equips financial institutions to efficiently meet changing accounting, risk, compliance, regulatory, market and business needs. Primatics is headquartered in McLean, Virginia, USA. For more information visit: www.primaticsfinancial.com.