BILLERICA, MA--(Marketwired - Apr 3, 2013) - Trillium Software®, a business of Harte-Hanks, Inc. (
Through CCAR, the Federal Reserve has mandated that bank holding companies (BHCs) with assets of at least $50 billion undergo a series of stress tests to prove they have sufficient capital in the event of a severe economic downturn. CCAR requires these banks to submit numerous compliance reports, each including hundreds of data elements that must be accurate, complete and properly formatted. If BHCs fail to comply, they face significant consequences from the Federal Reserve, including restrictions on capital distributions such as dividend increases and stock repurchases.
"The situation for these banks has grown even more challenging recently, as some CCAR reporting frequency has increased from quarterly to monthly, all while the criteria for data edit checks continues to change," said Jon Asprey, vice president strategic consulting, Trillium Software. "Trillium has developed a CCAR solution that brings self-service capabilities to business executives at these organizations, enabling them to gain ultimate control over the data requirements of CCAR and minimize their reliance on information technology resources. With Trillium's CCAR solution, business stakeholders can efficiently access new data sources and modify data edit checks as the Federal Reserve releases updates. This empowers executives to adapt to changes in Federal Reserve requirements rapidly and attest to regulators with confidence."
The Trillium CCAR solution is one of a number of the company's risk and compliance solutions. These solutions are designed to help organizations ensure that the data feeding critical risk measurement and monitoring processes provides the transparency and control required for programs such as FATCA, Solvency II and Risk Data Aggregation.
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About Trillium Software
Trillium Software® is a business of Harte-Hanks, and the leading best-of-breed enterprise data quality software and services provider in the world. Trillium's data quality experts help organizations achieve increased business value from their global data management initiatives by providing enterprise data profiling and data cleansing software solutions that collaborate with existing data systems and applications.
Trillium's data quality suite of products enable business executives and information technology professionals to profile, govern, manage, cleanse, and visualize data for CRM, MDM, regulatory and compliance, data warehouse and business intelligence initiatives. The company offers industry-specific business solutions that help solve data problems experienced by financial services, insurance, risk, healthcare and retail professionals. For more information about Trillium Software and its offerings, call (978) 436-8900 in the United States and in the United Kingdom call +44 (0) 118 940 7666, or visit Trillium Software online at http://www.trilliumsoftware.com.
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