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Press release from PR Newswire

Belfius Reduces Risk and Increases Back-office Trade Flexibility with Autonomy, an HP Company

Wednesday, October 17, 2012

Belfius Reduces Risk and Increases Back-office Trade Flexibility with Autonomy, an HP Company04:00 EDT Wednesday, October 17, 2012Belgian bank selects Autonomy Scrittura for end-to-end post-trade managementPALO ALTO, Calif., Oct. 17, 2012 /PRNewswire/ -- Autonomy, an HP Company, today announced that Belfius, a leading banking and insurance institution based in Belgium, has selected Autonomy Scrittura to provide an end-to-end platform for its post-trade automation. Belfius, formerly Dexia Bank, offers a wide range of financial services to individuals and businesses, including over-the-counter derivatives, foreign exchange, money markets and securities.With Autonomy Scrittura, Belfius has a single platform that provides end-to-end management for its back-office trade confirmations. Belfius was previously using a range of disparate confirmation systems. The bank needed to consolidate these into a single system that would allow its end users to take ownership of key business processes such as template management, document generation, reporting and document management. The project helps make the bank's system more flexible, while also helping it adapt to increasing trade volumes and facilitate the onboarding of new products."Because we operate in an extremely fast-paced sector, we have a strategic need to reduce complication in the trading process, while still controlling the risk factors," said Johan Roels, head, Transaction Services and Organization Financial Markets, Belfius. "Autonomy Scrittura helps us cut through the complexity and reduce both our risk and costs, and gives us a single platform to meet our present and future needs."Through the implementation of Scrittura, Belfius has been able to substantially reduce processing times for all trade types. Scrittura also has helped to mitigate risk through end-to-end management of trade documents, and has enabled end users to take control of key activities. Belfius' users directly maintain trade confirmation templates in four different languages and, with Scrittura, have been able to reduce the number of templates from more than 200 to just 75."Financial institutions have to operate at a dizzying speed to stay competitive, while facing ever-heightening regulatory scrutiny," said Nigel Hutchinson, senior vice president, Protect Solutions Europe, Autonomy, an HP Company. "With Scrittura's proven trade-processing capabilities, we provide the tools they need to keep pace and reduce risk, while also taking control of the total cost of ownership."Autonomy Scrittura is designed to give financial institutions full automation and control of back-office trade confirmation processes, such as generating document templates for trades. Scrittura is powered by Autonomy's cornerstone platform, IDOL (Intelligent Data Operating Layer). IDOL can form a conceptual understanding of the meaning of information in any format and language. IDOL also provides optical character and intelligent character recognition, meaning that it can automatically match inbound and counterparty documents. This gives capital market institutions a view into all data related to trade processing activity, allowing them to reduce their own costs and comply with increasingly stringent industry regulations. Please visit http://www.autonomy.com/scrittura for more information about Scrittura.About Autonomy Autonomy, an HP Company, is a global leader in software that processes human information, or unstructured data, including social media, email, video, audio, text and web pages, etc. Autonomy's powerful management and analytic tools for structured information together with its ability to extract meaning in real time from all forms of information, regardless of format, is a unique tool for companies seeking to get the most out of their data. Autonomy's product portfolio helps power companies through enterprise search analytics, business process management and OEM operations. Autonomy also offers information governance solutions in areas such as eDiscovery, content management and compliance, as well as marketing solutions that help companies grow revenue, such as web content management, online marketing optimization and rich media management.Please visit www.autonomy.com to find out more.About HP HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available at http://www.hp.com.This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance, market share or competitive performance relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP's businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; assumptions related to pension and other post-retirement costs and retirement programs; the execution, timing and results of restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those plans; expectations and assumptions relating to the execution and timing of cost reduction programs and restructuring and integration plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2012 and HP's other filings with the Securities and Exchange Commission, including HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2011.  HP assumes no obligation and does not intend to update these forward-looking statements.© 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.Editorial contactsGeorge Lockett Autonomy, an HP Company +44 207 104 5792 george.lockett@hp.comwww.hp.com/go/newsroom www.autonomy.com/content/News  SOURCE Autonomy, an HP Company