VANCOUVER, BC / ACCESSWIRE / November 15, 2016 / BlackIce Enterprise Risk Management Inc. (CSE:BIS), BlackIce is pleased to announce it has commenced a new initiative to enhance the BlackIce Enterprise Stress-Testing (BEST™) solution to become the state-of-the-art stress-testing platform that leverages cognitive computing for institutions of all sizes globally.
The Company’s BEST solution will be re-engineered from the ground-up, offering a full end-to-end stress-testing suite, leveraging emerging machine-learning and cognitive computing platforms to automate, learn and enhance the stress-testing process. Our aim is to develop a cognitive platform that is able to automate the statistical modeling of credit and default, enabling future applications beyond stress-testing alone.
Utilizing our strong partnership with IBM, BEST will be offered through a SaaS (Software as a Service) model on various cloud platforms and leverage the IBM Watson environment as the primary cognitive computing API. BlackIce believes that by providing a solution that delivers the capability for more complex, intuitive and “self-learning” stress-testing, institutions of all sizes will use the latest technologies to obtain a greater insight into their risks, and ultimately make better decisions for their institution.
While our initial market focus will be on small to mid-size institutions, we also see an opportunity for larger institutions to utilize a stress testing cognitive computing solution; as such, both opportunities allow the flexibility to license our technology and create a scalable revenue stream.
Utilizing the expertise of our BlackIce advisory board (which includes world-renown experts in financial regulatory development), we have the ability and knowledge that will enable the BEST solution to provide a comprehensive, industry-leading approach to stress-testing. Our experience with the stress-testing process in dozens of institutions globally will result in development of the most robust, automated product on the market today. As development continues we will announce more detailed information about the BlackIce Enterprise Stress-Testing (BEST) solution.