Finastra launches ALM IQ for banks to better manage risk and compliance

Finastra has unveiled Finastra ALM IQ, a risk management solution available for banks from March 2023. The unique cloud-based balance sheet management tool is designed to enable small and medium-sized banks to make swift decisions, thereby making them more competitive against larger financial institutions.

The innovative asset liability management program, driven by the cloud, enables small and medium-sized banks to optimize their positions under multiple regulatory constraints. It offers a fast and deep understanding of the balance sheet and exposure.

By shielding risk, the solution helps banks make sound operational decisions. Deployed on the cloud with minimal customization and maintenance, ALM IQ is scalable, enabling quick implementation and growth opportunities.

“Our new cloud-based ALM solution offers community banks a reduced total cost of ownership, quick deployment, and increased flexibility and scalability, allowing them to simplify the ALM process and better compete with the big banks,” said Mehdi Bouasria, Product General Manager, Treasury & Capital Markets Business Unit at Finastra.

“By removing barriers and simplifying risk management and compliance in the balance sheet, community banks can focus more of their valuable time on serving the needs of the communities they serve.”

“Small and medium-sized financial institutions across the United States are consistently looking for the right tools to help them be competitive with the big banks. As regulatory constraints continue to tighten and banks seek ways to better manage operational risk, this is a good example of a tool that will help industry leaders to better manage their balance sheets and serve their communities,” added Sid Dash, Chief Research Director at Chartis.