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Press Release
iLumen Teams With Standard & Poor's To Provide Business Monitoring And Benchmarking Services To The Banking Industry
ATLANTA, GA, March 11, 2003
iLumen Incorporated, a financial information and technology company headquartered in Atlanta, announces a strategic partnering agreement with Standard & Poor’s Risk Solutions. Risk Solutions will leverage the company’s recently launched iMonitor network to provide default probability models based on a bank's underlying data. iMonitor is an automated system for gathering, analyzing and benchmarking financial reporting data.
“Our clients will find iMonitor an excellent additional resource for their lending activities, particularly for the middle market,” said Dr. William Chambers, Managing Director, Risk Solutions Group of Standard & Poor’s. “The product dovetails very well with our Default Filter™ credit risk management software.” Default Filter provides banks with a complete system for model development with ongoing data management, validation and stress testing tools.
Government regulations and industry oversight like the Basel II Capital Accord mandate the implementation of an automated architecture for the collection and benchmarking of financial reporting data for both public and private companies. iMonitor will provide quicker access to data, a better understanding of trends and real-time early warning business indicators.
“iMonitor is an enabling technology that can manage the data collection and benchmarking requirements of the Basel Accord,” said Robert H. Woosley, founder and chief executive officer of iLumen. “iMonitor aggregates the performance of thousands of similar companies and provides financial performance comparisons. Compliance with the Basel Accord will reward banks and financial institutions with far greater security and tighter controls, as well as provide new levels of confidence for directors and shareholders.”
iMonitor is a financial monitoring and benchmarking network for the banking and accounting industries. It is an automated system for gathering and analyzing financial reporting data to provide next generation standards-based benchmarking and trend analysis.
iMonitor integrates with existing bank risk management systems, as well as Standard and Poor’s default and risk modeling products.
About Standard & Poor's Risk Solutions
Standard & Poor's Risk Solutions (www.risksolutions.standardandpoors.com) provides custom credit risk services, models, data and training to assist financial institutions in measuring and managing risk. Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE:MHP), provides independent financial information, analytical services, and credit ratings to the world’s financial markets. With 5,000 employees located in 19 countries, Standard & Poor’s is an integral part of the global financial infrastructure. For more information, visit www.standardandpoors.com.
About iLumen
iLumen, Inc. is a financial information technology company that delivers and manages private company data gathering and analysis solutions designed to solve critical problems in risk management, financial compliance and financial oversight within the banking, accounting and corporate environments. iLumen's services are based on a proprietary (patent pending) data warehousing engine known as iMonitor® that automates and standardizes the gathering, mapping, analysis and benchmarking of electronic accounting data from private companies.
For more information visit www.ilumen.com or call 404-446-1600. iLumen™ and iMonitor® are trademarks of iLumen, Inc., all rights reserved. |
