ILOG for IFRS at DekaBank

ILOG(R) (Nasdaq: ILOG; Euronext: ILO; ISIN: FR0004042364)

DekaBank, the Central asset manager for the Savings Banks Finance Group providers, has deployed ILOG JRules(R), to help comply with the IFRS (International Financial Reporting Standards) reporting requirements for managed accounts.

Using ILOG JRules, the business user from the Fund reporting division can now make changes to the system without any interaction from IT, highly reducing the time-to-market for new IFRS rules. Most changes can now be completed within one to two days compared with up to four weeks previously.

The introduction of IFRS, which impacts managed account investments, is placing a strain on European banks, which now have to centralize multiple GAAP numbers from different countries into a single consolidated view for their managed account customers.

Prior to deploying ILOG JRules, DekaBank had business rules hard-coded in their IT systems, which meant that changes, such as the new IFRS rules, were difficult to implement. Using ILOG JRules, the business users from the Fund reporting division have direct access to the reporting process templates, instead of waiting for the IT team to change software code, as it was handled previously. The new process allowed 2,800 new rules to be implemented within four weeks by only four users from the business department, reducing the time-to-market for new IFRS rules by over 50%.

Following the success of the implementation, the IFRS compliance model has already been adapted for a JRules-based Basel II solution, which went live during the first quarter of 2007.