Established in 1987, ProveIT Ltd is the leading complex event processing (CEP) solutions provider, striving to optimize business performance through comprehensive data exploitation. Recognizing how critical real-time information is to many organizations, including those in the banking and financial industry, ProveIT developed a real-time risk analysis platform, RiskIT, with Oracle Event Processing at its core.
RiskIT provides organizations with real-time insight into their risk exposure. It helps banks and financial institutions to significantly reduce trading costs and enables them to release billions of dollars in additional funds that the regulator has set aside for risk exposure because RiskIT provides aggregated global risk exposure on-demand.
ProveIT was confident that running its risk management system on Oracle Event Processing would deliver an easy-to-integrate solution that would meet its financial services customers’ specific demands.
“Most customers have Java-based middleware, and with Oracle Event Processing we can not only deliver a faster, smoother integration into existing systems, but also provide real-time insight into complex trade scenarios at banks. Similar products from other vendors are built on C++ or native languages which would require further integration and longer implementation cycles. Oracle Event Processing was the obvious choice,” said Mark Bruce, technical director, ProveIT Ltd.