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1、 Copyright Infopro Digital Services Limited 2022.All Rights Reserved2|RiskTech100 2023Chartis Research is the leading provider of research and analysis on the global market for risk technology.It is part of Infopro Digital,which owns market-leading brands such as Risk and WatersTechnology.Chartis go
2、al is to support enterprises as they drive business performance through improved risk management,corporate governance and compliance,and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.Ar
3、eas of expertise include:Credit risk.Operational risk and governance,risk management and compliance(GRC).Market risk.Asset and liability management(ALM)and liquidity risk.Energy and commodity trading risk.Financial crime,including trader surveillance,anti-fraud and anti-money laundering.Cyber risk m
4、anagement.Insurance risk.Regulatory requirements.Wealth advisory.Asset management.Chartis focuses on risk and compliance technology,giving it a significant advantage over generic market analysts.The firm has brought together a leading team of analysts and advisors from the risk management and financ
5、ial services industries.This team has hands-on experience of developing and implementing risk management systems and programs for Fortune 500 companies and leading consulting firms.Visit www.chartis- for more information.Join our global online community at www.risktech-.Copyright Infopro Digital Ser
6、vices Limited 2022.All Rights Reserved.No part of this publication may be reproduced,adapted,stored in a retrieval system or transmitted in any form by any means,electronic,mechanical,photocopying,recording or otherwise,without the prior permission of Infopro Digital Services Limited trading as Char
7、tis Research(Chartis).The facts of this document are believed to be correct at the time of publication but cannot be guaranteed.Please note that the findings,conclusions and recommendations that Chartis delivers are based on information gathered in good faith,the accuracy of which we cannot guarante
8、e.Chartis accepts no liability whatsoever for actions taken based on any information that may subsequently prove to be incorrect or errors in our analysis.See Terms and conditions.RiskTech100,RiskTech Quadrant and FinTech Quadrant are Registered Trademarks of Infopro Digital Services Limited.Unautho
9、rized use of Chartis name and trademarks is strictly prohibited and subject to legal penalties.Copyright Infopro Digital Services Limited 2022.All Rights Reserved3|RiskTech100 2023Table of contents1.Foreword 52.Overview 63.Risk management 2.0:digitalization and the transforming risk function 94.Char
10、tis research:key highlights 155.RiskTech100 2023 rankings 206.Category winners 247.2023 Rising Stars 298.Appendix A:Research methodology 339.Appendix B:How to read the RiskTech100 rankings 3410.How to use research and services from Chartis 3611.Further reading 37 Copyright Infopro Digital Services L
11、imited 2022.All Rights Reserved4|RiskTech100 2023List of figures and tablesFigure 1:RiskTech100 2023 taxonomy 7Figure 2:Processes are converging with new technologies 9Figure 3:Integrated GRC segments 10Figure 4:The key technology dimensions of digital transformation programs 10Figure 5:Solution dep
12、loyment and services models 12Figure 6:The different levels of managed service 13 Table 1:RiskTech100 research methodology 33Table 2:RiskTech100 assessment criteria 34 Copyright Infopro Digital Services Limited 2022.All Rights Reserved5|RiskTech100 2023Mark Feeley,Global Brand Director Im delighted
13、to welcome you to RiskTech100 2023.Still the most comprehensive independent study of the worlds major players in risk and compliance technology,RiskTech100 is globally acknowledged as the go-to place for clear,accurate analysis of the risk technology marketplace.Together with its accompanying awards
14、,the RiskTech100 ranking provides a valuable assessment and benchmarking tool for all participants in risk technology markets.As Phil outlines below,and as we explore in the report,the RiskTech and wider tech markets continue to shift,and as ever we at Chartis continue to track the technology develo
15、pments shaping systems,solutions and user demands.Congratulations to the vendors that feature in RiskTech100 2023 and on behalf of the Chartis team,we look forward to working with these and other industry players in what promises to be another crucial year in RiskTech.Enjoy the report!Phil Mackenzie
16、,Research PrincipalWelcome to RiskTech100 2023.This year,risk management techniques have moved beyond the regulatory to the existential.Rising interest rates and record inflation have accompanied global energy and commodity shocks,and deglobalization events,from trade wars to physical conflicts,have
17、 led to a more multipolar world.This has created volatility,and the shift away from market norms is overturning established notions of stability.Hidden leverage has been surfaced by recent market events and demonstrates how opaque chains of events can come to light,with unexpected consequences,even
18、for relatively safe assets.In these choppy waters,risk management is not simply a question of managing regulatory compliance it can be the difference between survival and extinction.The risks and their exposures presented by this new world are not evenly distributed,however,and Chartis expects that
19、this will also help to generate a world of winners and losers.In this years RiskTech100 research we will be discussing in more detail some of the key themes(increased volatility,changing economic cycles,the evolving ecosystem of credit intermediaries,a broader range of technology options,etc)that wi
20、ll inform our coverage in the following year.Our research coverage will continue to expand as we move forward,building out our team of analysts and intensifying our research across a wider range of risks.We will continue to examine how environmental,social and governance(ESG)and crypto are being aff
21、ected in the current market,and analyze how energy and commodity trading is changing in the face of global disruption.We will also continue to reinforce and build out our coverage of such core markets as financial crime risk management and financial risk.We started out as a business not too long aft
22、er the global financial crisis,and periods of uncertainty have always offered opportunities for risk technology.As such,we have seen several movers and shakers in this years ranking including a new#1.There have also been several new entrants to the rankings,as well as a wide array of rising stars an
23、d prizewinners,reflecting both our expanding view and the potential for disruption within this fast-moving space.These are interesting times for RiskTech and technology more generally,and together with our vendor and client community we are excited to see what changes are coming in 2023.1.Foreword C
24、opyright Infopro Digital Services Limited 2022.All Rights Reserved6|RiskTech100 2023The companies in RiskTech100 are drawn from a range of risk technology specialisms,and meet the needs of financial and non-financial organizations.They share a number of qualities that rank them among the top 100 Ris
25、kTech providers in the world.We determine the RiskTech100 rankings based on the classifications shown in Figure 1 on the next page,and focus on solutions,industry segments and success factors.1Note that the RiskTech100 report only includes companies that sell their own risk management software produ
26、cts and solutions.RiskTech100 2023:highlightsMoodys moved into the number 1 spot,FICO moved into the top 5 and ION,LexisNexis Risk Solutions and Bloomberg all moved into the top 10.There were 12 new entrants this year:Sayari(ranked 51)Zoloz(59)Evalueserve(65)LogicMonitor(68)nCino(71)Quantifind(73)St
27、eelEye(78)Trulioo(88)Shufti Pro(89)MEGA(90)Sopra Banking Software(96)insightsoftware(100)25 firms rose in the rankings by 5 places or more:ServiceNow moved up 44 places,from 81 to 37.Feedzai moved up 30 places,from 78 to 48.1 Note that some categories in energy and quantitative methods are now cover
28、ed in our Energy50 and STORM50 rankings and analysis.CubeLogic moved up 23 places,from 98 to 75.PwC moved up 23 places,from 62 to 39.SymphonyAI moved up 20 places,from 51 to 31.BCT Digital,Bahwan CyberTek Group moved up 17 places,from 94 to 77.RiskScreen moved up 14 places,from 99 to 85.Ripjar moved
29、 up 15 places,from 87 to 72.Quantexa moved up 14 places,from 40 to 26.SAP moved up 13 places,from 59 to 46.Empyrean Solutions moved up 12 places,from 64 to 52.Beacon Platform moved up 10 places,from 34 to 24.MathWorks moved up 9 places,from 79 to 70.Abrigo moved up 8 places,from 49 to 41.Appian move
30、d up 8 places,from 58 to 50.Cboe moved up 8 places,from 37 to 29.MORS Software moved up 8 places,from 77 to 69.Manipal Technologies moved up 7 places,from 90 to 83.Nasdaq moved up 7 places,from 25 to 18.Quantifi moved up 7 places,from 43 to 36.Eastnets moved up 6 places,from 61 to 55.ION moved up 6
31、places,from 13 to 7.Mitratech moved up 6 places,from 60 to 54.RiskSpan moved up 6 places,from 68 to 62.Regnology moved up 5 places,from 38 to 33.2.Overview Copyright Infopro Digital Services Limited 2022.All Rights Reserved7|RiskTech100 202320ALMArtificial intelligence applicationsAsset&inventory ma
32、nagementBalance sheet risk managementCapital optimizationCECLClimate riskCLMCommunications monitoringConduct and controlsCredit data CLOCredit data CMBSCredit data corporate bondsCredit data credit curvesCredit data SMECredit data wholesaleCredit risk for the banking bookCTRMCVACyber risk management
33、Cyber risk quantificationData integrity&controlDomain-specific languages GRCDomain-specific languages insuranceDomain-specific languages trading&capital marketsEnterprise GRCEnterprise stress testingESGEvaluated pricing&data creditEvaluated pricing&data fixed incomeEvaluated pricing&data multi-asset
34、Evaluated pricing&data OTC derivativesFacility management&controlFinance&accounting accounting frameworksFinance&accounting cross-industry supportFinance&accounting data managementFinancial crime AMLFinancial crime dataFinancial crime enterprise fraudFinancial crime insurance fraudFront office risk
35、managementFX risk&tradingGRC analyticsGRC auditGRC contentGRC data privacy managementGRC digitalization&controlGRC enterprise GRCGRC IT riskGRC operational resilience&business continuityGRC operational risk&process controlGRC supply chain riskGRC vendor&third-party riskIFRS 9IFRS 17 accounting syste
36、msIFRS 17 data management&reportingInnovation AI&decision-management platformsInnovation capital marketsInnovation corporate bankingInnovation credit riskInnovation derivativesInnovation evaluated pricingInnovation lending operations platformsInnovation market riskInnovation private credit operation
37、s&technologyInnovation retail financeInnovation UXInsurance ALMInsurance budgeting&financial planningInsurance catastrophe risk modelingInsurance risk&capital managementInsurance scenario generationIntegrated trading&risk managementKYCLDTILending operations collateralLending operations limitsLending
38、 operations LOSLiquidity riskManaged services credit riskManaged services data managementManaged services financial crimeManaged services market riskMarket risk buy-sideMarket risk sell-sideModel risk managementModel risk quantificationModel validationModel validation supporting toolsMVA&margin anal
39、yticsOperational risk regulatory analyticsOpsTech credit operationsOpsTech fees&commissionsOpsTech fixed-income support servicesOpsTech legal operationsOpsTech onboardingOpsTech tax processingOpsTech wealth management lifecycle operationsReal-time riskRegulatory intelligenceRegulatory reporting bank
40、ingRegulatory reporting insuranceRegulatory reporting markets&securitiesRetail credit analyticsRisk&finance integrationRaaSRisk data aggregation&reportingRisk technology infrastructureSupervisory technology(SupTech)Trade-based AMLTrade surveillanceTreasury platformsxVASolution categoriesFunctionalit
41、yCore technologyStrategyCustomer satisfactionMarket presenceInnovationChartis categoriesBankingBuy-sideCorporationsInsuranceTrading&capital marketsIndustry categories23Figure 1:RiskTech100 2023 taxonomySource:Chartis Research Copyright Infopro Digital Services Limited 2022.All Rights Reserved8|RiskT
42、ech100 2023RiskTech themes:2023 and beyondThis years RiskTech100 ranking reflects some key themes surrounding Chartis overarching research agenda,with a growing focus on:The industrialization of compliance technologies.The increased variety and diversity of available analytics.The increased availabi
43、lity of data(property,geospatial,the growing depth of evaluated pricing,etc).Looking ahead,a significant component of our research will explore the growing intersection of different evolving technology paradigms and risk,analytics and compliance technology(which,arguably,has always been a key focus
44、area for Chartis).Next year,however,will see a heightened focus on how the underlying technology stack interacts with the application environment,regulatory drivers and distribution and development mechanisms and tools.As we observe the range and variety of technology choices available(such as open-
45、source languages,varied databases,data-parallel programming options and event-driven frameworks),our central thesis is that the full set of commercial and open-source options has yet to fully permeate the risk and compliance landscape.Cloud impactsThe impact of the cloud on risk technology(and some
46、of the scalability and overarching economic issues it brings)has been deep.But the question of the cloud and its economics has become more complex and nuanced.We will be examining this issue in considerable detail in most aspects of our research,whether market risk,credit risk,banking analytics,asse
47、t and liability management,or anti-financial crime systems,taking a close look at the impact the cloud is having(alongside its different elements,such as infrastructure as a service,platform as a service,storage and application programming interfaces APIs).We will also look in much more detail at th
48、e economics and operational dynamics of managed services in our key areas of focus(risk,analytics,trading,compliance,operational risk and control,and anti-fraud).While research into managed services has been an important part of what we do,it will now be integral to every piece of analysis and will
49、be at the core of RiskTech100 2024.Language issuesSimilarly,integral to all of our research publications and analysis will be a focus on the impact of low-code/no-code,domain-specific languages,scripting tools and the overarching availability of open-source or next-generation languages.We believe th
50、at various forms of dynamic application extension present a wholly new way of doing things.A vast range of possible options is available,with varying origins and levels of effectiveness.In several areas,cash-flow languages are fairly well-developed,and a number of vendors have developed very well-st
51、ructured domain languages,notably in the trading area and particularly in the area of derivatives pricing.Energy volatilityThere has been substantial volatility in energy markets(the pandemic,overarching new regulations and geopolitics are just three big issues of the day for the sector).However,we
52、believe that as digital technologies arrive in the energy ecosystem,fundamental and structural challenges will arrive along with some benefits.Cyber risk,IT risk and other control/operational risk concerns have moved up the agenda.Meanwhile,we see a much stronger and deeper focus on analytics(such a
53、s statistical/AI tools,financial models and optimization)across the energy ecosystem,and for non-energy commodities.For many years we have focused on energy trading data and analytics,and have examined the major industry shifts in energy and commodities markets.We plan to do more of this in environm
54、ents where energy-ecosystem dynamics have even greater resonance(because of geopolitics,the energy transition and regulatory shifts,for example).This report does not outline all of the available technologies and the different dimensions by which we will surface these issues during the coming year.(M
55、any of these themes have been front and center in our research this year,a fact reflected in the RiskTech100 rankings).Overall,the growing centrality of engineering,development,distribution and deployment dynamics will be seen across all our research.Copyright Infopro Digital Services Limited 2022.A
56、ll Rights Reserved9|RiskTech100 2023OverviewDigital transformation drives an expanding risk function As external market and industry forces evolve and intensify,the risk function is undergoing a deep and structural transformation characterized by several key trends:Centralization of the risk functio
57、n in the organization.Growing externalization(links with external entities).The commercialization of various elements and capabilities.The most important trend,however,with sweeping consequences,is digitalization.Digitalization includes a range of technology dynamics such as the application of AI,th
58、e increasing functionality available through application programming interfaces(APIs),cloud capabilities and automation.In considering these trends Chartis has also identified a change in the way the risk function interacts with operations,technology,finance and controls across the financial industr
59、ies and beyond,into sectors including energy,IT and the professional services.This transformation of the risk function into a centralized unit that interacts with all parts of the business has coincided and is partly driven by such digital processes as automation,control and quantification.New techn
60、ologies,including Big Data databases and machine learning(ML),enable relatively easy mapping of unstructured data to structured analytical data(time series,etc.).The increased availability of data that results from digitalization also enables micro-level process optimization and a general improvemen
61、t in operational resilience,an area of considerable focus for regulators.As part of this new era of digitalization,electronic control has become a key focus for institutions.New business models are defined by the need to safeguard profitability and growth without compromising on compliance,as instit
62、utions have to deal with wider and more varied regulations.Among other risks,institutions are increasingly contending with heightened third-party,model and IT risk compliance procedures.GRC:maturing sub-segments and growing budgetsConsequently,the expanding risk function is coinciding with maturatio
63、n of the sub-segments of governance,risk management and compliance(GRC)and firms growing GRC budgets.In addition to compliance demands,institutions must consider the impact of economic and political uncertainty on their operational resilience and business continuity.This can include disrupted supply
64、 chains,geopolitical risk and market and system disruption resulting from the COVID-19 pandemic,as well as structural shifts in the market and a greater focus on stakeholder value.How organizations deal with technological developments and repeated tests of their operational resilience have been majo
65、r strategic themes in our 2023 RiskTech100.One area of expansion reflected in this years RiskTech100 is the GRC solutions market.Vendors are competing for increased technology budgets,as end users focus on implementing comprehensive controls,process and analytical automation,and sophisticated quanti
66、fication methods(see Figure 2).IT frameworks and digital touchpoints are now ubiquitous across the entire 3.Risk management 2.0:digitalization and the transforming risk functionBig Data Functional programmingand domain-specific languagesOrchestration enginesObject and NoSQL databasesHardware-acceler
67、ated compute and databasesAudit and investigationsOperationsAccountingPrivacy and identity managementFigure 2:Processes are converging with new technologiesSource:Chartis Research Copyright Infopro Digital Services Limited 2022.All Rights Reserved10|RiskTech100 2023institution,and historically siloe
68、d functions such as audit and risk can be integrated through new technology platforms.As the risk function evolves,GRC risk segments are also maturing.The risk function must now integrate these interrelated risk segments,which come with their own specific calculations,methodologies,practitioners and
69、 compliance demands.Dynamic OpRiskOne notable shift is the evolution of operational risk(OpRisk)from a regulatory concern to a more dynamic enterprise function driven by the uptake in analytics and control.The front office,which is no longer a passive consumer of existing processes,is a major drivin
70、g force behind the adoption of control libraries,which effectively reflect the day-to-day running of business lines.Regulators have made it clear through various standards,directives and regulations that the front office is expected to take an active role in identifying and mitigating instances of m
71、isconduct.2 Active participation means contributing to the process of setting controls,a responsibility traditionally confined to the back-office audit function.The broader institutional role of technology and the ubiquity of disparate IT systems and operations continue to impact institutions workfl
72、ows and tech spend.Some technology vendors with an existing client base for IT risk management operations,for example,are taking the opportunity to leverage existing digital touchpoints in institutions to cross-sell other GRC products(see Figure 3).Digital transformation in risk management:a closer
73、look Balancing cost and innovation:designing digital transformation programs Growing investment in digital transformation programs in risk management and compliance is having a profound effect in major industry segments.In terms of the risk function,there are several dimensions of digitalization(see
74、 Figure 4):Cloud-ready architectures that are virtualized and API-oriented,with clear interfaces between modules).2 Examples include the Financial Conduct Authority(FCA)Conduct Risk Framework,the FCA Senior Managers and Certification Regime,the Dodd-Frank Act and the Monetary Authority of Singapore(
75、MAS)Individual Accountability and Conduct regime.Model risk managementIT riskThird-party risk managementAudit OperationalriskConduct riskEnterprise GRCGRCanalyticsFigure 3:Integrated GRC segmentsSource:Chartis ResearchAPIsOpen sourceAutomationVirtual deploymentIntegrated data management AI adoptionF
76、igure 4:The key technology dimensions of digital transformation programsSource:Chartis Research Copyright Infopro Digital Services Limited 2022.All Rights Reserved11|RiskTech100 2023 Abstracted and API-oriented frameworks.AI tools(with effective model operations).Intelligent automation and orchestra
77、tion capabilities,as well as industrialized development(DevOps)and security(security ops)characteristics.Open-source and industry-standard frameworks(in essence a description of best-in-class software as a service SaaS platforms).(Some of these key dynamics are considered in the following sections.)
78、The overall view:slowing down to speed upAs part of their digital transformation programs,firms must consider the trade-off between slowing down in the short term and speeding up in the long term.Security and compliance demands,as well as industry competition,are forcing institutions to evaluate the
79、 design of their applications and technology stacks continuously.While the availability of sophisticated technology and data has increased rapidly,institutions still face plenty of strategic decisions.For vendors and institutions alike,big decisions relating to enterprise-level computational infrast
80、ructure,including database management and data storage(regardless of whether these are cloud platforms),can lock them into proprietary formats.These formats may not be able to accommodate future data architecture requirements and can constrain the functional development of solutions and business off
81、erings.Cloud decisionsThe question of whether financial institutions,particularly in the US banking industry,are adopting the cloud is now moot.Banks export a whole host of services to the cloud.The real question is which functions are being moved to the cloud and in what sequence.The shift to the c
82、loud is complex and multi-dimensional.Consumers and end users are increasingly asking more sophisticated and difficult questions about their cloud strategies.Perhaps not all applications are economically suitable for cloud deployment,for example,or some functions are better off on a proprietary clou
83、d(or could be supported by a highly structured partnership with a cloud vendor).There is also the challenge of having client data on the cloud indeed,this consideration extends to any data handled or managed by third parties.Questions about cloud adoption should focus on a more nuanced analysis that
84、 considers the unique cloud deployment trends in particular market segments,business lines and geographies.Aside from major structural decisions about hardware and server management,other significant dimensions of this particular digital transformation are also key components of effective and secure
85、 applications.The adoption of such technologies as APIs has quickly become standard practice,particularly in certain industry segments.APIs are also a significant feature of secure cloud deployment,especially on public clouds.Two key trendsThe growth in cloud has a wider effect,in that its exposure
86、of previously unchanged infrastructure is forcing firms to consider their tech stacks in more detail,and to commit to overarching decisions about their technology strategies and their associated trade-offs.This development which we describe as structural decision-making is one of the key trends we h
87、ave focused on in this years RiskTech100.In addition to big structural decisions,institutions can also implement technology that improves the application development and customization process.This second key trend can be seen through two lenses:Operationalizing everything.Analytical rigor is increas
88、ingly being applied to every process within the banking organization.DevOps is a collection of tools,practices and operating workflows to support the development process.It emerged from the ubiquity of IT operations and the need to build,test,deploy and monitor software for large and complicated app
89、lications.And as the field of machine learning rapidly advances in risk management,its training,versioning and data-driven validation requirements are swiftly creating industry best practices and the software to manage them.No-code/low-code(NC/LC)applications are an increasingly popular choice for i
90、nstitutions looking to support employee engagement with digital applications.NC/LC tools allow users to build and customize modular applications in controlled development environments,without the prerequisite of coding/development knowledge.Copyright Infopro Digital Services Limited 2022.All Rights
91、Reserved12|RiskTech100 2023Key trend 1:structural decision-makingAPI-centric architectures:creating secure modular systems Increasingly,processes throughout financial institutions are fully digitalized,or include some form of digital touchpoint.Core banking,which historically has been difficult to t
92、ransform,is among the central processes and platforms that are now digitalized.Digital processes are enabling the representation of these core applications through APIs.APIs come in many forms and have become an important feature of vendors SaaS offerings,as they can support end users ability to cus
93、tomize,extend and integrate platforms.And while APIs can create a common framework that connects the core data from different applications,they also support the development of modular frameworks with functionally specific microservices.Platform openness,driven by API-centric architectures and modula
94、r and message-oriented architectures,is a vital component across risk management applications.Despite increased awareness of the benefits of API-centric architectures,including at the executive board level,API projects can come with design and implementation challenges.The interface for the exchange
95、 of data needs to be designed for specific end-user requirements and software settings.The integration of applications should also be based on and tailored to specific organizational structures.But greater system interoperability can come with increased security concerns.Moving applications to the c
96、loud without an API-based interface for each software component exposes the system to cyberattacks and system integrity breaches.But while poor API design and development can leave institutions vulnerable to security issues,institutions cannot afford to make the transition to the cloud without them.
97、Appropriate API design is the only secure and scalable way of moving applications to the cloud.Vendors may also employ a variety of APIs as part of their SaaS offering to continuously back up and secure an organizations data.API-centric architectures have become especially crucial in the context of
98、controls.Centralized control frameworks can improve an institutions enterprise oversight,compliance and operational agility.However,different operational systems,personnel,business requirements and databases can make integration especially difficult.The more ad hoc legacy systems an institution has,
99、the greater the integration challenge.The sophistication of control libraries and processes also varies by business line.Broadly speaking,however,control libraries and processes can increasingly be extracted,embedded or made available through APIs.Investing for the future:short-term vs.long-term clo
100、ud and application architecture strategiesThe terms cloud,managed services and SaaS can often be used interchangeably.In practical terms,the cloud refers to a variety of adoption and outsourcing models.At a basic level,cloud adoption means infrastructure as a service(IaaS),which describes the partia
101、l or entire outsourcing of hardware/server investment and management to a cloud provider.Compared with the IaaS model,platform as a service(PaaS)entails a certain level of commitment to a particular cloud service provider.The IaaS model requires an institution to develop systems based on the provide
102、rs specific computing platform and its software,database and analytics infrastructure.Institutions should select providers based on both current and long-term computational,database and security requirements.A common trend across all institution types and geographies is the growing volume of decisio
103、ns they are confronted with.Vendors have many decisions to make(see Figure 5),including the nature of the cloud solution to build and which hyperscaler they use for their infrastructure(AWS,Azure,Oracle Cloud or Google Cloud).On-premiseSoftware as a serviceVirtual deploymentManaged servicesFigure 5:
104、Solution deployment and services modelsSource:Chartis Research Copyright Infopro Digital Services Limited 2022.All Rights Reserved13|RiskTech100 2023Enabling managed servicesThe ability to containerize processes and access them off-site has made the cloud a natural fit with managed services,which ha
105、ve grown accordingly.In addressing certain market segments,like Current Expected Credit Losses(CECL)compliance for small US banks,a vendor must offer some level of managed services to be competitive.The term managed services is also used as an omnibus term that in practice refers to a number of diff
106、erent business/service models.These different approaches can be clustered into three distinct levels of service(see Figure 6).For vendors,managed services can be an attractive potential offering because their billing models can support long-duration licenses.Software subscription services are more l
107、ikely to be open to potential replacement or negotiation by end users.However,providing managed services can be challenging,as it entails a lot more build risk.Managed services require a particular operating style at a firm,and this can include the type of salespeople that are hired.Product manageme
108、nt needs to be much more rigorous,a trend that also applies to SaaS.Any mistakes or bugs in an application can have a lasting impression on users perceptions of the service and can affect its future uptake.Projected economics and pricing are also critical.Vendors must build the software in anticipat
109、ion of a specific level of use.Some vendors have found the transition to managed services difficult because of these challenges.Conclusion:build out capabilities and avoid system lock-inThe potential for system lock-in as a result of particular system architecture decisions is a key consideration fo
110、r vendors.Historically,legacy database vendors and their specific data formats dominated the market.These database designs constrained the ability of application vendors to optimize their data management technology for particular use cases.Data lakes and multi-cloud ingestion can support both open h
111、eterogenous data ingestion and engineering.Data lakes that store raw data are designed with an open format,and are platform-independent and accessible through various interfaces.They also enable interactive analytics,machine learning and scalable analytics applications.The ability to access data thr
112、ough SQL,high-level programmatic languages like Python or Scala,or deep learning libraries,can support the continuous data-engineering process.Cross-platform cloud databases are becoming more and more popular.However,firms that opt for these databases may face challenges down the line as they commit
113、 to the database vendors technology strategy rather than their own.Cross-platform databases may be restrictive in the future,as their architectural style will evolve with mass-market demands.These upgrades may not be suited to the specific financial applications firms may require them for,and the da
114、tabase management system could become restrictive.The benefits of cross-platform databases(such as data sharing,integration and multi-language support)can be offset by the loss of the link Level 1 Level 2Level 3Software that is run remotely with minimal human support.Service runs an entire risk envi
115、ronment(i.e.,the middle office).Moderate human support.Service runs a risk environment as well as all its data and technology support services.High degree of human support.Figure 6:The different levels of managed serviceSource:Chartis Research Copyright Infopro Digital Services Limited 2022.All Righ
116、ts Reserved14|RiskTech100 2023between technology and evolving business needs.Indeed,different applications in finance require specific data architectures.Key trend 2:application development and customizationOperationalizing everything:the increased uptake of DevOps and MLOps by risk teamsAnalytical
117、rigor is increasingly part of operational processes throughout financial institutions,and this is best characterized by the growing ubiquity of DevOps.Fundamentally,the term DevOps refers to a set of practices and procedures that aim to speed up software deployment in a way that supports error detec
118、tion and allows distributed teams to communicate effectively.By using tools throughout the development process,firms can achieve some level of predictability around project progress,ongoing challenges,system rerun requirements and production tests.The approach systematized by DevOps is well suited t
119、o risk management and is being more widely adopted by risk teams.DevOps services can range from container orchestration to automation tools and metadata collection.Other tools support the operations process,enabling continuous delivery pipelines and integrating testing and deployment.Some services p
120、rovide multiple production environments or enable serverless deployment.The success of DevOps in bridging the gap between software development and IT engineering has laid the groundwork for its newer counterpart,MLOps.This analogue of DevOps is the set of machine learning practices and tools used to
121、 ease models journey into production.The uptake of machine learning has been driven by the growing availability of deep learning libraries such as Keras,PyTorch,Apache Spark,TensorFlow,MLib,MxNet and Scikit-learn.MLOps has grown alongside,and has been applied to model management,experiment tracking,
122、performance measurement features and visualizations.It has also been applied to data collection,in such areas as recording training data,data versioning and the tagging process.MLOps can be employed to record hyperparameters used in the training process and measure their effects on accuracy and spee
123、d.MLOps also gives data scientists the tools to move their models into production,rather than wholly relying on engineering teams.Automated versioning and benchmarking not only support fast deployment but are also crucial aspects of governance.Low-code/no-code and domain-specific languages skilled a
124、bstractions LC/NC tools and domain-specific languages can be an effective way to create abstractions of the useful features of different business domains.Domain-specific languages,in particular,can enable users to generate fast and sophisticated code that expresses a particular problem clearly.In ge
125、neral,for instance,users of derivatives risk and pricing applications tend to operate using abstract cashflow algebra terms.A domain-specific language can provide an efficient way to enable them to construct new products while avoiding having to deal with the partial differential solver that sits be
126、low them.Similarly,LC/NC tools designed for operations staff should allow them to visualize workflows and interact with processes without the need for specialist coding skills.In essence,effective LC/NC tools and domain-specific languages should translate deeper functionality into specific abstracti
127、ons that must be appropriate for particular contexts and the users skills and experience.But targeting LC/NC tools and domain-specific languages to specific groups of users is not always straightforward.If these abstract languages fit poorly to users,they can produce poor-quality code.Functionality
128、should be packaged in a way that creates boundaries and controls over how users interact with the system.Overly complicated domain-specific languages can also create a steep learning curve for practitioners,which may contribute to resource and staff-retention issues.Code efficiency is also a crucial
129、 consideration the intermediate layer of specialized code must be well thought-out,written and packaged.Conclusion:analytical rigor in applications changes users and vendors at a structural levelThe rise of DevOps and MLOps,as well as growing operationalization,is part of a trend of embedding analyt
130、ics more deeply into different dimensions of how financial institutions manage their risk.This can be seen in firms structural transformations,as they alter their organizational and technological architectures in response.This dynamic is also changing the vendor landscape,as more quantitative forms
131、of risk start to predominate.This is most clearly seen in the GRC space,where firms with a more network-oriented view of GRC structures are beginning to gain market share over more process-oriented firms.Nevertheless,this is a trend we expect to affect almost all areas of the risk function.Copyright
132、 Infopro Digital Services Limited 2022.All Rights Reserved15|RiskTech100 2023This section summarizes the key research Chartis has published since the last iteration of RiskTech100.3Chartis Big Bets 2022The macroeconomic consequences of COVID-19 rapid interest rate hikes,inflation,high levels of publ
133、ic sector borrowing and lukewarm GDP growth forecasts are likely to persist for some time,and firms and stakeholders will need to navigate these conditions as we pursue a full recovery.Despite the disruptions caused by COVID-19,however,Chartis observes a good measure of continuity in both the econom
134、y and the technology infrastructure as we move through 2022.Dynamics such as the rise of transition management in portfolio rotation and beyond,and the continuing growth,componentization and horizontalization of financial crime solutions represent a process that began long before the pandemic.Credit
135、 data solutionsBecause of the breadth and variety of credit data,the credit data ecosystem is extremely complex and divides along a variety of dimensions,including geography,nature of the credit user(wholesale,retail,etc.),sector(with a special focus on real estate and property markets)and the busin
136、ess purpose for which the data is being used.The growth in credit data has been impacted by substantial shifts in the structure of credit intermediation,such as the creation of new institutions and the considerable movement of credit intermediation to non-banks.Across the three sectors of the credit
137、 data landscape Chartis analyzes wholesale,retail and commercial real estate(CRE)/property services the use of analytical and advanced statistical techniques(such as machine learning)to capture and quantify data is also on the increase.But integrating new and traditional forms of data brings its own
138、 technical challenges.3 Note that the text in this section is taken from published reports,and therefroe reflects Chartis analysis and viewpoints at the time.IFRS 17 and LDTI solutionsChartis continues to embed its analysis of International Financial Reporting Standard(IFRS)17 and Long-Duration Targ
139、eted Improvements(LDTI)within the wider context of the shift to risk-aware accounting,including the transformational effects of the IFRS 9 standard and Current Expected Credit Losses(CECL)methodology.The ongoing structural revolution that risk-aware accounting has catalyzed coincides in part with br
140、oader modernization projects.Chartis continues to view IFRS 17 and LDTI compliance as resting on three intersecting core elements of the technology stack:accounting systems,actuarial modeling systems,and data management and reporting.However,we also view implementation in the context of modernizatio
141、n projects accelerated by the pandemic,such as growing pressure on firms to invest in their operational resilience and business continuity planning.Energy marketsEnergy markets were set for another tumultuous year in 2022,with numerous factors causing uncertainty,including the recovery from the pand
142、emic,higher inflation,the likelihood of higher interest rates,geopolitical tensions(including the war in Ukraine),the acceleration toward renewables,increased regulation and the growing complexity and challenges in energy finance.The Ukraine war,in particular,and the global reaction to it,has change
143、d the dynamics of commodities markets generally and energy markets specifically.Nevertheless,against such an uncertain background,there are several things we can say for certain about the evolving energy ecosystem.These include increasing differences between,and within,US and European market structu
144、res,more prescriptive environmental regulation,the development of better and more diverse analytical tools,a continued shock for market participants,and the continued digitalization of energy infrastructure.4.Chartis research:key highlights Copyright Infopro Digital Services Limited 2022.All Rights
145、Reserved16|RiskTech100 2023Regulatory reporting solutionsThe regulatory reporting landscape has changed significantly over the past couple of decades.The volume and complexity of financial regulations have increased significantly,putting pressure on financial institutions to monitor and report a ran
146、ge of complex exposures and comply with several different regulatory requirements.Many banks have struggled to find the right strategic solutions to help them stay abreast of this increasing regulation and need for compliance.Many institutions are still using technologies they invested in after the
147、financial crisis,and are looking for innovative solutions to make reporting faster and more efficient across their organizations.Emerging regulatory technology(RegTech)solutions can help firms meet their regulatory obligations,but these technologies can be expensive,especially if deployed on a stand
148、-alone basis.To help financial institutions become more efficient,RegTech must be part of an integrated risk and finance architecture to truly add value and provide maximum benefit.Operational risk and conduct risk and control solutionsRecent events have highlighted the importance of having comprehe
149、nsive measures to mitigate the adverse effects of operational risk.This has increased the importance of analytics and quantification,since to paraphrase what you cant measure,you cant manage.The pandemic has also accelerated an emerging shift toward remote working environments and highlighted the im
150、portance of technology architecture.Continuing strains on financial institutions highlight the growing interconnectedness and interdependence of operations and systems.Firms are now concerned not only with minimizing the effects of operational risks,but also strengthening their overall operational r
151、esilience.Achieving this means ensuring the integrity of their systems and maintaining operational processes in the face of structural changes in the operational environment.CLM solutions:corporate and investment banks and markets institutionsFinancial institutions face many challenges:increasing di
152、gitalization,more complex customer workflows and pressure from regulators and business requirements.In this context,they have been attempting to develop client lifecycle management(CLM)frameworks a more holistic and centralized view of their customers as they move from onboarding to offboarding.Inve
153、stment banks and markets-oriented institutions have some of the most complex and demanding CLM requirements,as their customers often have complex structures or can be a combination of institutional and individual clients(in the case of private banks and wealth managers).To address the complexity inv
154、olved,investment institutions,investment and private banks and broker dealers have to balance their desire for a single view of the customer with a variety of technical and operational components in the CLM landscape.Trade-based AML solutionsTrade-based money laundering(TBML),a growing phenomenon wi
155、thin the financial services industry,is costing financial firms millions of dollars and attracting increasing regulatory scrutiny.Methods of managing it,however,are still not well-delineated.Nevertheless,the trade-based anti-money laundering(TBAML)solution market remains an area of great opportunity
156、 for both financial institutions and vendors.Chartis expects competition in this space to intensify over the coming years,as firms expand into adjacent areas and combine fundamental and quantitative approaches to build end-to-end solution capabilities.Financial crime risk management systems:watchlis
157、t monitoring solutionsSince Chartis first analyzed it in 2019,the watchlist screening and monitoring market has grown and evolved.Financial institutions now have Copyright Infopro Digital Services Limited 2022.All Rights Reserved17|RiskTech100 2023considerably more options and solutions to help them
158、 meet the challenges they face.Against the backdrop of anti-money laundering(AML)spreading into adjacent areas of compliance(trade finance,gambling and gaming,and FinTech),several market developments have occurred.These include increased investment in watchlist screening and monitoring technology an
159、d solutions from banks and other financial institutions,new vendors disrupting the market by using advanced technology,and the growing consideration of commercial metrics such as customer experience by firms as part of their compliance and risk functions.Vendors have focused on a few key areas:movin
160、g toward global and mid-tier banking solutions,strengthening their end-to-end capabilities and investing in more product R&D.The buy-side landscapeThe buy-side,the investment side of the financial services industry,has embarked on the road to digitalization with purpose.Investment managers have reco
161、gnized the need to modernize and have wisely determined that since their firms are not technology development shops,leveraging the financial technology(FinTech)industry to achieve their digital goals rapidly and successfully can bring considerable benefits.Chartis believes that with this leapfroggin
162、g strategy firms can achieve efficiency,analytical superiority and reliability across the investment management lifecycle.Algorithmic trading solutionsThis research examines a wide range of algorithms(algos),including scheduled algos,opportunistic algos,aggressive algos,lit and dark liquidity-seekin
163、g algos,pair-trading algos,portfolio-trading algos,delta-1 algos,cross-asset risk arbitrage algos and smart order routing(SOR)child-order algos.Target clients are typically institutional buy-side small and large hedge funds,family offices and investment managers,as well as sell-side banks,brokers an
164、d introducing brokers.Key areas covered by this research include the trends driving the algorithmic trading solutions market and vendor landscape,algorithm performance analytics,algo predictive analytics,Big Data management,lit and dark liquidity management,algo model risk,algo model explainability,
165、algo infrastructures,algo techniques and governance.Outsourced trading solutionsDemand for outsourced trading solutions is increasingly coming from larger asset managers.Outsourced trading solution providers are also getting larger.In the past few years,no new small,independent boutique firms have e
166、ntered the outsourced trading provider market.Chartis estimates that the global outsourced trading commissions wallet will grow from$1 billion in 2022 to$1.4 billion in 2023,across the Americas(47%),Europe/UK(39%)and Asia-Pacific(14%).Nevertheless,our interviews with outsourced trading clients indic
167、ate that providers need to do more to modernize their trading technology,platform integrations and interoperability with best-of-breed specialist modules.The development of outsourced trading solutions has progressed across three distinct generations over the past decades.Many outsourced trading sol
168、ution providers are still operating with outdated first-generation infrastructure,while others are leading the way in customer satisfaction rankings with more agile and dynamic third-generation trading technology architectures.ESG data aggregators and scorersEnvironmental,social and governance(ESG)i
169、ssues now constitute a major class of risk.Activism among investors and the need for regulatory compliance mean that ESG risks are now being addressed in investment portfolios,loan books and financial holdings.Against this background,investment managers must be able to progress from simply divesting
170、 exclusionary holdings to quantifying the ESG data used in investment decisions.But the validity of the data used for ESG investing has come under scrutiny,and investors in ESG funds and regulators want assurance that data and quantitative assessments are valid.Copyright Infopro Digital Services Lim
171、ited 2022.All Rights Reserved18|RiskTech100 2023The vendor landscape for ESG data is entering its third phase,with new challengers entering the market as demand for real-time,alternative,vertical-focused and non-financially material ESG risk data increases.Chartis also expects a fresh wave of partne
172、rships and re-bundling to occur as investors accelerate the integration of ESG risks and advanced analytics into their investment decision-making.RiskTech vendorsMergers,acquisitions and partnerships continue apace among vendors in the risk and compliance technology market.This list(selected by Char
173、tis4)highlights some of the deals announced in the past year:Exiger acquired:oSupply Dynamics,a supply chain collaboration platform.Fenergo acquired:oSentinels,an AML transaction-monitoring firm.FIS acquired:oEmbedded payment company Payrix.GBG acquired:oAcuant,an identify verification provider.oClo
174、udcheck,a provider of electronic Identity verification and anti-money laundering solutions.IBM acquired:oSXiQ,a digital transformation services company specializing in cloud applications,cloud platforms and cloud security.oRandori,an attack surface management(ASM)and cybersecurity platform.ICE acqui
175、red:orisQ and Level 11 Analytics,which deploy data-driven technologies for managing climate change risk and expanding alternative data capabilities.4 Note that this is not a comprehensive list,but a representative selection of the mergers and acquisitions that have occurred in the past year.insights
176、oftware acquired:oLegerity,a provider of cloud-based accounting rules software.LSEG acquired:oGlobal Data Consortium(GDC),a digital ID firm providing capabilities in global name and address matching.oMayStreet,a market data solutions provider.oTORA,a trading technology provider offering an order and
177、 execution management system(OEMS)and a portfolio management system(PMS)across equities,fixed income,foreign exchange,derivatives and digital assets trading.Moodys acquired:oBogard AB,a leading provider of data and information on politically exposed persons(PEPs)in the Nordic region.oPassFort,a Euro
178、pean provider of onboarding and KYC technology solutions.o360kompany AG,an audit-proof business verification and KYC technology solution firm.Nasdaq acquired:oMetrio,a privately held provider of environmental,social and governance(ESG)data collection,analytics and reporting services firm based in Mo
179、ntreal.Numerix was acquired by Genstar Capital.OneTrust acquired:oPlanetly,a technology company aiming to support the business transformation to a net-zero economy.Pegasystems acquired:oEverflow,a process mining startup.Copyright Infopro Digital Services Limited 2022.All Rights Reserved19|RiskTech10
180、0 2023 Regnology acquired:oBelgian RegTech firm b.fine,which automates workflows for compliance teams in the last mile of the regulatory process.b.fine also offers advisory and managed services.oThe Tax Information Reporting(TIR)software business from PwC UK.S&P Global completed a merger with:oIHS M
181、arkit,a global diversified provider of information,analytics and solutions providing information and analytics to customers in business,finance and government.SAS acquired:oKamakura,which provides specialized software,data and consulting to help financial organizations manage a variety of financial
182、risks.SS&C acquired:oBlue Prism Group,a leading robotics process automation(RPA)company.SymphonyAI acquired:oFinancial crime detection leader NetReveal from BAE Systems.NetReveal protects against financial crime,ensures regulatory compliance and reduces risk.Wolters Kluwer acquired:oInternational Do
183、cument Services,Inc.,a leading US provider of compliance and document-generation software solutions for the mortgage and real-estate industry.Workiva acquired:oDenmark-based financial reporting company ParsePort.Zafin acquired:oFINCAD,the derivatives analytics firm.Copyright Infopro Digital Services
184、 Limited 2022.All Rights Reserved20|RiskTech100 20235.RiskTech100 2023 rankings2023 Rank2022 RankCompanyHQOverall scoreFunctionalityCore technologyStrategyCustomer satisfactionMarket presenceInnovation12MoodysUS79.17%98.00%70.00%83.00%64.50%85.00%74.50%21FISUS78.77%96.20%80.90%75.00%63.50%88.00%69.0
185、0%34SASUS76.33%95.00%83.00%70.00%62.00%77.00%71.00%43OracleUS73.72%88.80%87.00%67.00%58.50%71.00%70.00%56FICOUS72.92%85.00%68.01%70.00%67.00%69.00%78.50%69S&P GlobalUS70.58%86.00%69.00%72.00%62.00%67.00%67.50%713IONIreland69.67%85.00%73.00%69.00%52.00%77.00%62.00%811LexisNexis Risk SolutionsUS69.46%
186、80.25%67.00%67.00%61.00%75.50%66.00%97Wolters KluwerNetherlands69.30%85.50%68.50%60.00%66.80%73.00%62.00%1012BloombergUS69.08%79.00%70.00%68.00%63.00%68.00%66.50%118MurexFrance68.92%77.50%72.00%68.50%62.00%68.00%65.50%1214AdenzaUS68.75%80.50%67.00%69.00%68.00%69.00%59.00%1310NumerixUS68.67%69.00%63.
187、00%74.00%70.00%69.00%67.00%1415MetricStreamUS69.45%72.25%64.00%72.50%70.00%72.00%60.50%1516NICE ActimizeUS68.17%74.00%66.00%69.00%59.00%74.00%67.00%165MSCIUS67.92%82.00%65.00%70.00%60.00%68.50%62.00%1717IBMUS67.50%71.00%84.00%69.00%53.00%62.00%66.00%1825NasdaqUS65.54%64.00%66.00%70.00%60.50%65.00%67
188、.75%1920SS&CUS65.38%77.80%59.00%69.50%59.00%70.00%57.00%2019LSEGUK65.08%82.50%65.00%56.00%55.00%75.00%57.00%2118FinastraUK64.83%80.00%69.00%58.00%50.00%76.00%56.00%2224PrometeiaItaly64.58%72.00%63.00%62.00%71.50%53.00%66.00%2326Dun&BradstreetUS64.17%78.00%65.00%68.00%53.50%65.00%55.50%2434Beacon Pla
189、tformUS63.75%67.50%68.50%56.00%64.00%59.50%67.00%2521QontigoUS63.25%71.50%61.00%64.50%61.50%58.00%63.00%2640QuantexaUK63.17%62.00%70.00%62.00%60.00%55.00%70.00%Copyright Infopro Digital Services Limited 2022.All Rights Reserved21|RiskTech100 20232023 Rank2022 RankCompanyHQOverall scoreFunctionalityC
190、ore technologyStrategyCustomer satisfactionMarket presenceInnovation2730ExperianIreland63.08%68.00%62.00%64.00%59.00%60.50%65.00%2829FenergoIreland63.00%67.00%63.00%63.00%58.00%65.50%61.50%2937CboeUS62.67%61.00%66.00%66.00%62.00%59.00%62.00%3022FactSetUS62.50%69.00%59.00%67.00%51.50%61.50%67.00%3151
191、SymphonyAIUS/India62.42%70.00%67.00%57.00%54.50%60.00%66.00%3236ICEUS62.21%72.75%57.00%67.00%53.50%61.00%62.00%3338RegnologyGermany61.88%68.25%59.00%61.00%70.50%55.50%57.00%3435Intellect DesignIndia61.80%72.03%63.50%60.00%60.50%55.75%59.00%3527GBGUK61.67%65.00%61.00%67.01%55.00%57.50%64.50%3643Quant
192、ifiUS61.42%71.50%65.00%51.00%61.50%55.50%64.00%3781ServiceNowUS61.33%56.00%69.00%67.00%55.00%60.00%61.00%3832FiservUS61.17%74.53%63.00%51.00%61.50%68.00%49.00%3962PwCUK61.08%74.50%68.00%60.50%56.00%53.00%54.50%4031BlackRock SolutionsUS61.00%73.50%50.50%67.00%51.00%63.00%61.00%4149AbrigoUS60.92%65.03
193、%59.00%60.50%61.00%65.50%54.50%4233Dow Jones Risk&ComplianceUS60.83%67.00%67.00%52.00%59.00%60.00%60.00%4328ConfluenceUS60.21%64.25%54.50%62.00%61.50%56.50%62.50%4444WorkivaUS60.17%54.00%50.00%59.00%72.00%64.00%62.00%4545OneTrustUS60.10%71.50%53.00%61.50%53.60%71.00%50.01%4659SAPGermany60.08%75.00%6
194、9.00%56.50%50.00%57.00%53.00%4748ACI WorldwideUS59.43%62.05%63.00%57.00%49.50%70.00%55.00%4878FeedzaiUS59.25%66.00%62.00%59.00%62.50%52.00%54.00%4947ConningUS58.58%67.00%58.00%59.00%53.00%55.00%59.50%5058AppianUS58.50%53.03%64.00%64.00%57.00%51.00%62.00%51SayariUS/India58.33%50.00%64.00%61.00%61.00%
195、43.00%71.00%5264Empyrean SolutionsUS58.13%71.25%58.25%60.50%61.25%37.25%60.25%5350QRMUS57.92%67.50%50.00%53.00%53.00%66.00%58.00%Copyright Infopro Digital Services Limited 2022.All Rights Reserved22|RiskTech100 20232023 Rank2022 RankCompanyHQOverall scoreFunctionalityCore technologyStrategyCustomer
196、satisfactionMarket presenceInnovation5460MitratechUS57.68%73.00%49.00%58.50%51.60%71.00%43.01%5561EastnetsUAE57.58%67.50%52.00%55.00%60.00%59.00%52.00%5653LoxonHungary57.50%67.00%67.00%47.00%72.50%48.00%43.50%5756RSAUS57.42%63.50%54.50%51.50%54.50%63.50%57.00%5855FINCAD1Canada57.29%69.00%62.00%36.25
197、%61.50%49.00%66.00%59Zoloz2Singapore57.17%59.00%60.00%54.00%54.00%59.00%57.00%6054BroadridgeUS57.08%65.50%56.50%60.00%57.50%58.50%44.50%6163SAI360US57.02%70.00%50.00%56.50%50.60%71.00%44.00%6268RiskSpanUS56.88%57.75%60.50%56.50%64.00%47.00%55.50%6352PelicanUS/India56.75%58.00%62.00%57.00%53.50%44.00
198、%66.00%6467Kiya.ai3India56.33%59.00%54.00%49.00%61.00%67.00%48.00%65EvalueserveSwitzerland56.17%59.00%58.00%59.00%54.00%50.00%57.00%6665AzentioSingapore56.09%61.53%52.00%52.00%61.00%65.50%44.50%6770PegasystemsUS56.00%55.50%67.50%59.00%48.00%49.00%57.00%68LogicMonitorUS55.85%63.00%54.00%57.50%50.60%6
199、3.00%47.00%6977MORS SoftwareFinland55.75%72.00%67.50%44.00%68.00%32.00%51.00%7079MathWorksUS55.67%54.00%61.00%52.00%58.00%52.00%57.00%71nCinoUS55.63%69.25%47.25%58.50%59.25%40.25%59.25%7287RipjarUK55.46%47.25%56.00%56.50%68.00%40.00%65.00%73QuantifindUS55.42%49.00%64.00%55.00%57.50%43.00%64.00%7476S
200、upply WisdomUS55.27%63.00%52.00%55.50%51.10%65.00%45.00%7598CubeLogicUK55.21%63.75%56.50%52.00%61.00%47.50%50.50%7671SuryaIndia55.13%60.50%60.00%53.25%59.00%38.00%60.00%7794BCT Digital,Bahwan CyberTek GroupIndia54.96%56.25%56.50%49.00%58.00%54.50%55.50%78SteelEyeUK54.88%49.25%60.50%49.00%59.00%53.50
201、%58.00%7975AML PartnersUS54.79%56.75%58.00%59.50%55.00%40.50%59.00%8084Integro TechnologiesSingapore54.67%48.50%58.00%57.00%60.00%51.50%53.00%Copyright Infopro Digital Services Limited 2022.All Rights Reserved23|RiskTech100 20232023 Rank2022 RankCompanyHQOverall scoreFunctionalityCore technologyStra
202、tegyCustomer satisfactionMarket presenceInnovation8183AravoUS54.60%61.50%49.50%57.00%50.60%63.00%46.00%8272Clari5India54.50%63.00%61.00%44.50%56.50%48.00%54.00%8390Manipal TechnologiesIndia54.42%56.00%56.00%50.50%57.00%51.50%55.50%8482SureCloudUK54.27%62.00%50.50%54.50%51.60%62.00%45.00%8599RiskScre
203、en4UK54.17%50.00%50.00%59.00%53.00%58.00%55.00%8673CammsAustralia54.10%62.50%53.00%55.50%46.60%62.00%45.00%8788EquifaxUS53.92%72.00%55.00%56.00%42.50%55.00%43.00%88TruliooCanada53.75%49.00%52.00%51.00%57.00%58.50%55.00%89Shufti ProUK53.67%50.00%51.00%60.00%57.00%48.50%55.50%90MEGAFrance53.58%65.00%5
204、8.50%53.00%54.00%43.50%47.50%9192Aptitude SoftwareUK53.50%76.00%59.50%47.00%53.50%35.00%50.00%9296DiligentUS53.42%63.00%56.50%52.00%53.00%48.50%47.50%9385CareEdge Risk SolutionsIndia53.33%53.50%57.00%53.50%61.50%43.00%51.50%9497Featurespace UK53.17%45.00%49.50%54.50%61.00%43.00%66.00%9589NetGuardian
205、sSwitzerland53.08%60.25%56.25%53.50%66.00%37.25%45.25%96Sopra Banking SoftwareUK53.00%48.00%49.50%49.00%64.50%47.00%60.00%9793ComplyAdvantageUK52.92%52.00%44.00%56.00%61.00%44.50%60.00%9886ReadiNowAustralia52.77%57.00%53.00%52.00%51.60%58.00%45.00%9991zebGermany52.71%74.50%65.25%41.25%52.75%33.25%49
206、.25%100insightsoftware5US52.50%73.00%62.50%45.00%53.50%30.00%51.00%1 FINCAD is the capital markets division of Zafin.2 Owned by Ant Group.3 Formerly InfrasoftTech.4 Formerly KYC Global.5 Formerly Legerity.Copyright Infopro Digital Services Limited 2022.All Rights Reserved24|RiskTech100 20236.Categor
207、y winnersCategory award2023 winnerOverall WinnerMoodysChartis categoriesFunctionalityMoodysCore TechnologyOracleStrategyMoodysCustomer SatisfactionLoxonMarket PresenceFISInnovationFICOIndustry categoriesBankingMoodysBuy-sideBloombergCorporationsSAPInsuranceMoodysTrading and Capital MarketsFISSolutio
208、n categoriesArtificial Intelligence ApplicationsFICOAsset and Inventory ManagementSAPAsset and Liability Management(ALM)QRMBalance Sheet Risk ManagementSASCapital OptimizationPrometeiaClient Lifecycle Management(CLM)FenergoClimate RiskMoodysCommodity Trading Risk Management(CTRM)IONCommunications Mo
209、nitoringNICE ActimizeConduct and ControlsTCSCredit Data Collateralized Loan Obligation(CLO)MoodysCredit Data Commercial Mortgage-Backed Security(CMBS)Trepp Copyright Infopro Digital Services Limited 2022.All Rights Reserved25|RiskTech100 2023Category award2023 winnerCredit Data Corporate BondsBloomb
210、ergCredit Data Credit CurvesBloombergCredit Data Small and Midsize Enterprise(SME)Dun&BradstreetCredit Data WholesaleMoodysCredit Risk for the Banking BookMoodysCredit Valuation Adjustment(CVA)NumerixCurrent Expected Credit Losses(CECL)MoodysCyber Risk ManagementIBMCyber Risk QuantificationRiskSense
211、Data Integrity and ControlOracleDomain-specific Languages GRCMetricStreamDomain-specific Languages InsuranceFISDomain-specific Languages Trading and Capital MarketsNumerixEnterprise GRCMetricStreamEnterprise Stress TestingSASEnvironmental,Social and Governance(ESG)MoodysEvaluated Pricing and Data Cr
212、editMoodysEvaluated Pricing and Data Fixed IncomeBloombergEvaluated Pricing and Data Multi-assetICEEvaluated Pricing and Data OTC DerivativesLSEGFacility Management and ControlSAPFinance and Accounting Accounting FrameworksOracleFinance and Accounting Cross-industry SupportSAPFinance and Accounting
213、Data ManagementOracleFinancial Crime Anti-Money Laundering(AML)OracleFinancial Crime DataMoodysFinancial Crime Enterprise FraudFICOFinancial Crime Insurance FraudShift Technology Copyright Infopro Digital Services Limited 2022.All Rights Reserved26|RiskTech100 2023Category award2023 winnerFront Offi
214、ce Risk ManagementNumerixFX Risk and TradingICEGRC AnalyticsTCSGRC AuditMetricStreamGRC ContentSAI360GRC Data Privacy ManagementRadarFirstGRC Digitalization and ControlTCSGRC Enterprise GRCMetricStreamGRC IT RiskIBMGRC Operational Resilience and Business ContinuityServiceNowGRC Operations Risk and P
215、rocess ControlTCSGRC Supply Chain RiskSAPGRC Vendor and Third-Party RiskSAPInternational Financial Reporting Standard(IFRS)9SASIFRS 17 Accounting SystemsAptitude SoftwareIFRS 17 Data Management and ReportingOracleInnovation AI and Decision-management PlatformsFICOInnovation Capital MarketsCboeInnova
216、tion Corporate BankingnCinoInnovation Credit RiskMoodysInnovation DerivativesNumerixInnovation Evaluated Pricing BloombergInnovation Lending Operations PlatformsKulizaInnovation Market RiskRiskfuelInnovation Private Credit Operations and TechnologyOxane PartnersInnovation Retail FinanceFICOInnovatio
217、n User Experience(UX)TopazInsurance ALMQRM Copyright Infopro Digital Services Limited 2022.All Rights Reserved27|RiskTech100 2023Category award2023 winnerInsurance Budgeting and Financial PlanningAonInsurance Catastophe Risk ModelingMoodysInsurance Economic Scenario GenerationConningInsurance Risk a
218、nd Capital ManagementAonIntegrated Trading and Risk ManagementMurexKnow Your Customer(KYC)SolutionsFenergoLong-Duration Targeted Improvements(LDTI)Wolters KluwerLending Operations CollateralBroadridgeLending Operations LimitsFISLending Operations Loan Origination SystemMoodysLiquidity RiskWolters Kl
219、uwerManaged Services Credit RiskAbrigoManaged Services Data ManagementSmartStreamManaged Services Financial CrimeNasdaqManaged Services Market RiskMSCIMarket Risk Buy-sideS&P Global Market IntelligenceMarket Risk Sell-sideFISModel Risk ManagementSASModel Risk QuantficationPrometeiaModel ValidationCR
220、ISIL(an S&P Global Company)Model Validation Supporting ToolsEvalueserveMargin Valuation Adjustment(MVA)and Margin AnalyticsFISOperational Risk Regulatory AnalyticsRiskLogixOpsTech Credit OperationsFISOpsTech Fees and CommissionsCognizantOpsTech Fixed-Income Support ServicesBroadridgeOpsTech Legal Op
221、erationsMitratechOpsTech OnboardingFenergo Copyright Infopro Digital Services Limited 2022.All Rights Reserved28|RiskTech100 2023Category award2023 winnerOpsTech Tax ProcessingWolters KluwerOpsTech Wealth Management Lifecycle OperationsDelta CapitaReal-time RiskCboeRegulatory IntelligenceWolters Klu
222、werRegulatory Reporting BankingRegnologyRegulatory Reporting InsuranceOracleRegulatory Reporting Markets and SecuritiesAdenzaRetail Credit AnalyticsFICORisk and Finance IntegrationSASRisk as a Service(RaaS)RiskSpanRisk Data Aggregation and ReportingOracleRisk Technology InfrastructureNVIDIASuperviso
223、ry Tech(SupTech)RegnologyTrade SurveillanceNasdaqTrade-based AMLQuantexaTreasury PlatformsIONxVANumerix Copyright Infopro Digital Services Limited 2022.All Rights Reserved29|RiskTech100 2023This category recognizes a selection of vendors that,in the opinion of our analysts,are companies to watch.Ain
224、surtech(an AJMS Group Entity)Ainsurtech is a leading global InsurTech provider for the banking,financial services and insurance sectors.Its cutting-edge technologies and services are backed by a team of domain experts,with the aim of providing cost-effective,highly scalable and efficient technology
225、solutions to address the business challenges faced by regulators,insurance companies and other key stakeholders.AsiaVerifyAsiaVerify provides access to business,customer and shareholder verification data,sourced from government registries across Asia and translated in real time.The companys platform
226、 leverages natural language processing(NLP),Asian optical character recognition(ACP)and proprietary artificial intelligence and translation technologies to streamline workflows for Know Your Business,Know Your Customer and ultimate beneficial owner compliance checks across Asia-Pacific.Climate XClim
227、ate X combines climate science with econometric modeling to deliver location-specific risk ratings and climate-adjusted loss estimates for extreme weather events linked to climate change,up to the year 2100.The companys Spectra product,available through an online platform or via APIs,combines the la
228、test climate models with up-to-date real-world data to project the financial impact of climate change on properties,buildings and infrastructure under multiple future emissions scenarios.CogNextCogNext is a RegTech company that provides a no-code compliance platform that automates and simplifies reg
229、ulatory compliance for banks and financial institutions.Its cloud-native,end user-focused cognitive platform addresses risk,finance and regulatory challenges through AI/machine learning(ML)and the ability to connect data pipelines seamlessly in the evolving technology stack.CogNext also offers credi
230、t modeling,model automation and dynamic balance sheet modeling.DataTracksDataTracks provides a cloud-based software solution to help clients prepare compliance reports for filing with regulators worldwide.DataTracks solution covers 26 countries,serves more than 21,500 clients and has facilitated the
231、 preparation of more than 220,000 reports since inception.DataTracks provides services in selected regulatory regimes,converting inputs provided by clients in traditional formats to HTML,XML,XBRL or iXBRL formats and tagging them with the most appropriate taxonomy element of applicable accounting st
232、andards.DiligenciaDiligencia gathers reliable and accurate entity data and specialist corporate intelligence from primary sources to provide insight into the relationships that underpin business activity.The companys clients,which include financial institutions,law firms,risk advisory organizations
233、and multinational corporations,use the data to manage their compliance obligations,market strategies and counterparty risks in Africa and the wider Middle East.The companys online platform,ClarifiedB,offers access to verified information on organizations and individuals,including company registratio
234、n,ownership,management,subsidiaries and associated companies.ExigerExiger helps corporations,government agencies and banks manage risk and compliance through technology-enabled and SaaS solutions.Exiger addresses financial crime compliance,including model validation and optimization,remediations and
235、 lookbacks,audit and assurance,third-party risk management and program design.It also supports local,state and federal agencies in supply chain risk management,intelligence analysis,construction-integrity monitoring,and company and personnel vetting.JocataJocatas GRID is an enterprise ecosystem tech
236、nology platform that provides an integrated 7.2023 Rising Stars Copyright Infopro Digital Services Limited 2022.All Rights Reserved30|RiskTech100 2023real-time view of business,risk,operations and compliance.A multi-layered stack of technology capabilities,each layer solves a specific challenge in t
237、he digital transformation initiatives of financial institutions.Although the individual feature sets of GRID are mapped to discrete products,its architecture enables them to be deployed separately,all together or in specific combinations,depending on the clients requirements.GRID plugs into back-end
238、 systems through a secure interface,reducing up-front costs for training,setup and infrastructure.KulizaKulizas Finvolv is a low-code,API-driven platform for global banks and FinTechs.Its loan-management system automates customer management operations,digitizes repayment options and provides insight
239、s from data obtained throughout the loan.The digital origination system provides automated and improved credit decisioning across the digital lending marketplace.Seamless,easy to integrate and secure,the system also aligns with the requirements and guidelines of multiple geographies.Finvolvs API Hub
240、 also offers 250+compliance-ready APIs for various data sources and FinTech solutions.KYC PortalKYC Portal offers a CLM platform that manages the end-to-end process of due diligence and KYC.Its systems risk scoring engine allows clients to define their regulatory process at a product or service leve
241、l,and includes an embedded document management system and inbuilt workflows.MoleculeMolecule offers a cloud-native energy/commodity trading risk management(E/CTRM)system with front-to back-office capabilities.Trade capture,mark-to-market,value at risk(VaR),settlement and other functions are fully au
242、tomatic,and offered in near-real time.Features include automatic deal capture,market data,automatic position,P&L and risk,and customizable reporting.The solution is used by independent power producers,oil,gas and chemicals marketers,energy and commodities consumers,hedge funds and prop funds.Special
243、ized upgrade packages are available for renewables,physical power and crypto,alongside a data lake as a service.MyComplianceOfficeFormerly Governor Software,MCO helps senior risk and compliance executives at financial institutions improve compliance across their organization.The company uses visuali
244、zation technology to tackle the issues associated with governance and oversight by delivering the context of risk,requirements,objectives and controls and how they interrelate and map to each other.NapierNapier provides an AI-enhanced platform that integrates multiple compliance solutions into one m
245、aster dashboard for intelligent AML and trade compliance.Highly scalable and deployable on-premise or in the cloud,Napiers platform enables non-technical business users to define and test rules,and uses AI and ML to reduce false positives,identify more false negatives,enhance insights and automate r
246、eporting.OwlinOwlin provides AI-powered text and news analytics solutions for financial institutions,leveraging ML and NLP to cluster,extract,score and visualize unstructured data in real time from millions of news and web sources,and across multiple languages.It generates early-warning signals to i
247、dentify risks,detect new entities in the risk domain,uncover unknowns and capture potential investment opportunities.Oxane PartnersOxanes CREST platform helps real-estate lenders,investors,lending platforms and asset managers transform the investment lifecycle from origination to exit.It provides a
248、comprehensive ecosystem for managing both debt and equity investments and helps streamline origination,underwriting,servicing and portfolio management.Panorama PM helps firms to centralize portfolio management workflows across asset types on a single technology platform,giving clients the flexibilit
249、y to manage a wide range of private and illiquid credit asset types.Oxane Panorama DD is a portfolio due-diligence platform that streamlines the process and allows parties to collaborate and exchange.Copyright Infopro Digital Services Limited 2022.All Rights Reserved31|RiskTech100 2023 RadarFirstRad
250、arFirst manages privacy and security incidents involving regulated data through intelligent,automated and purpose-built SaaS technology.RadarFirsts intelligent incident management software automates privacy risk assessments and enables exhaustive investigations that ensure that all critical details
251、from an incident are captured.Throughout the profiling of an incident,RadarFirst automatically and seamlessly connects critical data to the appropriate breach-notification laws.RiskfuelRiskfuels software enables calculations that normally take hours or days to be completed in seconds,giving clients
252、full insight into their risk at all times.Among the features of Riskfuels software are real-time valuations and P&L,real-time risk sensitivities,accuracy with any valuation technique,accuracy under volatile market conditions,accurate outputs and real-time what-if scenario analysis.RiskLogixRiskLogix
253、 is a GRC solution provider whose platform has more than 500,000 financial services users across 80 countries.In addition,the companys consultancy and risk training programs have helped financial institutions worldwide develop and improve their enterprise risk management(ERM)strategies.SenzingSenzin
254、g entity resolution software allows customers to add advanced data matching and relationship discovery capabilities to their applications and services quickly.With Senzings easy-to-use API,customers can be up and running in minutes and deploy in days or weeks.Senzings purpose-built AI is designed ju
255、st for entity resolution and learns through experience.It also allows sub-second adds,changes,deletes and queries,and maps messy and structurally inconsistent data.SGR COMPLIANCESGR COMPLIANCE is a leader in data analysis and collection.The company gathers,organizes and constantly updates libraries
256、of crucial information for the prevention of money laundering and terrorism financing.The companys solution,SGR Daily Control,offers an accessible interface combined with clear information on politically exposed persons(PEPs),sanctions,legal enforcement events and adverse media.This helps clients me
257、et legal requirements for the prevention of money laundering,terrorism financing and other related threats.Shift TechnologyShift enables insurers to automate and optimize decision-making across key insurance functions,including fraud detection,claims and compliance,with solutions that combine AI and
258、 deep insurance expertise.The companys products contribute to better customer experience,increased operational efficiency and reduced costs.Sigma RatingsSigma is an AI-driven risk intelligence platform used by global organizations to fight financial crime and make more informed,automated counterpart
259、y risk decisions.Sigma uses point-in-time risk analysis and ongoing monitoring technology to screen thousands of global data sources and return a unified stream of compliance intelligence on companies and people.SignzySignzy is a digital banking infrastructure provider that enables clients to onboar
260、d customers and businesses digitally with speed and accuracy.The company works with more than 250 financial institutions globally,including the four largest banks in India and a Top 3 acquiring bank in the US.The companys GO platform delivers seamless,end-to-end,multi-product user journeys from lead
261、 to activation without writing a single line of code.It also gives clients access to more than 240 bespoke APIs that can be added to any workflow.Silent EightSilent Eight helps financial institutions manage their compliance and risk obligations.The company,whose solutions are deployed in more than 1
262、50 global markets,leverages AI and ML to improve the name-screening process,weed out money laundering and terrorist financing,reduce manpower and compliance risks,and enable better decision-making.Copyright Infopro Digital Services Limited 2022.All Rights Reserved32|RiskTech100 2023 smartKYCsmartKYC
263、 supports financial services firms in their KYC due diligence by using AI to extract precise open-source intelligence from the internet and deep web,news archives,watchlists and corporate databases across 35 languages.The solution can be hosted on-premise or in the cloud,is scalable,supports a multi
264、-tenant architecture and can be integrated into proprietary systems or third-party tools.TookitakiTookitaki provides enterprise software solutions that create sustainable compliance programs for financial services companies.Its analytics platform and suite of ML-enabled applications are built on a d
265、istributed computing framework.They provide recommendations and insights for reconciliation and AML process workflows,as well as detailed model management and audit capabilities.TopazTopaz provides advanced commodity trading and risk analytics for traders and risk teams.It gives leading trading orga
266、nizations access to real-time valuations,exposure and risk analysis across their trading activity,no matter how complex.It also offers comprehensive professional services covering implementation,integration,bespoke solutions and end-user support.Topaz also provides bespoke quantitative modeling serv
267、ices for derivatives,physical optionality and asset modeling.Torstone TechnologyTorstone Technology offers a cloud-based platform for post-trade securities and derivatives processing that simplifies post-trade complexities.Torstones open APIs deliver a suite of real-time functionality,from middle-of
268、fice initial trade capture and confirmations through to back-office settlement,risk management,reconciliation,accounting,cash and collateral management.Vector RiskVector Risk provides high-performance analytics for areas including VaR,potential future exposure(PFE),xVA and the International Swaps an
269、d Derivatives Association(ISDA)Standard Initial Margin Model(SIMM),on hosted cloud technology.The company built a native cloud solution to take advantage of new delivery,support and upgrade capabilities and now has deployments in cloud data centers in North America,Europe,Australia and Asia.Vector R
270、isk onboards new customers rapidly by using SaaS and analytics that are pre-integrated with several trading platforms,speeding up the mapping process.VneuronVneuron provides a complete package for anti-money laundering and combating terrorist financing.The platform fulfills international risk-based
271、customer due diligence standards by collating all customer information in one place and merging with existing KYC processes.Real-time,AI-supported transaction monitoring helps identify suspicious transactions,which can be checked against international sanction and watchlists.The presentation of comp
272、liance data via dashboards helps to improve operational efficiency and automated reporting and filing.Copyright Infopro Digital Services Limited 2022.All Rights Reserved33|RiskTech100 2023Chartis RiskTech100 report is the most comprehensive study of its kind,and is a core element of our annual resea
273、rch cycle.The rankings in the report reflect our analysts expert opinions,along with research into market trends,participants,expenditure patterns and best practices.We also validate the analysis through several phases of independent verification(see Table 1).So that we can continue to assess the ma
274、rket and its key players accurately,we are developing and refining our methodology as the risk technology market evolves.Any changes will be reflected in subsequent reports.Table 1:RiskTech100 research methodology Performed a comprehensive market sweep of leading market participants in 40 risk categ
275、ories.Completed 1,500 surveys and interviews with risk technology buyers and end users.Collected data on organizations expenditure priorities and vendor preferences.Collated 400 completed questionnaires,briefing documents and product specifications from risk technology vendors.Conducted and attended
276、 200 interviews,product demonstrations and strategy briefings with risk technology vendors.Conducted 150 interviews with risk technology buyers to validate our survey findings.Conducted more than 50 interviews with independent consultants and system integrators specializing in risk technology.Applie
277、d RiskTech100 assessment criteria to filter the top 150 vendors.Reviewed data with 30 independent consultants and 110 risk technology buyers.Interviewed 60 ex-employees of the top 50 risk technology vendors to validate our findings.Undertook final data validation with 100 vendors,receiving 80 comple
278、ted questionnaires and carrying out more than 100 vendor briefings.Completed 100+independent reference checks to validate vendor claims and client satisfaction levels.Developed the final top 100 rankings,identified the category winners and finalized the report.Source:Chartis Research8.Appendix A:Res
279、earch methodology Copyright Infopro Digital Services Limited 2022.All Rights Reserved34|RiskTech100 2023The RiskTech100 assessment criteria comprise six categories:Functionality.Core technology.Strategy.Customer satisfaction.Market presence.Innovation.Within each category,we have included a number o
280、f sub-categories to encompass the range and scope of current risk technology solutions(see Table 2).Source:Chartis ResearchTable 2:RiskTech100 assessment criteriaFunctionality Depth of functionality.The level of sophistication and detailed features in the software product.Aspects assessed include:in
281、novative functionality,practical relevance of features,user-friendliness,flexibility and embedded intellectual property.High scores are given to firms that achieved an appropriate balance between sophistication and user-friendliness.In addition,functionality that links risk to performance is given a
282、 positive score.Breadth of functionality.The spectrum of risks covered as part of an enterprise risk management solution.The risk spectrum under consideration includes treasury risk management,trading risk,market risk,credit risk,operational risk,energy risk,business/strategic risk,actuarial risk,as
283、set-liability risk,financial crime and compliance.Functionality within and integration between front-office(customer-facing)and middle-/back-office(compliance,supervisory and governance)risk management systems are also considered.High scores are given to firms achieving(or approaching)integrated ris
284、k management breaking the silos between different risk management functions.Core technologyChartis evaluates a vendors overall technology stack by benchmarking it against latest best practice.Key considerations this year have been the use of cloud and Big Data technologies,as well as the agility and
285、 openness of the overall technology architecture.Data management.The ability of enterprise risk management systems to interact with other systems and handle large volumes of data.Data quality is often cited as a critical success factor,and ease of data access,data integration,data storage and data m
286、ovement capabilities are all important factors.Risk analytics.The computational power of the core system,the ability to analyze large amounts of data in a timely manner(e.g.,real-time analytics)and the ability to improve analytical performance are all important factors.Reporting and visualization.Th
287、e ability to surface risk information in a timely manner.The quality and flexibility of visualization tools,and their ease of use,are important for all risk and compliance management systems.9.Appendix B:How to read the RiskTech100 rankings Copyright Infopro Digital Services Limited 2022.All Rights
288、Reserved35|RiskTech100 2023Strategy Vision and leadership.Market understanding,a scalable business model,product strategy,technology strategy and go-to-market strategy are critical success factors.Both organic and inorganic growth strategies are considered,as well as strategic alliances and partners
289、hips.Ability to execute.The size and quality of the sales force,the sales distribution channels,the global footprint,partnerships,differentiated messaging and positioning are all important factors.Specific consideration is given to the quality of implementation and support functions,post-sales suppo
290、rt and training.Financial performance.Revenue growth,profitability,sustainability,financial backing and the percentage of recurring revenues.The ratio of license to consulting revenues is key to business scalability.Customer satisfaction Value for money.The price to functionality ratio,and the total
291、 cost of ownership versus license price.After-sales service and support.Important factors include the ease of software implementation,the level of support and the quality of training.Product updates.Important considerations for end users include how often vendors issue updates and how well they keep
292、 pace with best practice and regulatory changes.Market presence Market penetration.The number of customers in chosen markets and the rate of growth relative to sector growth rate.Market potential.Brand awareness,reputation,thought leadership and the vendors ability to use its current market position
293、 to expand horizontally(with new offerings)or vertically(into new sectors).Momentum.Performance in the past 12 months,including financial performance,new product releases,quantity and quality of contract wins and market expansion moves.Innovation New product development.New ideas,functionality and t
294、echnologies to improve risk management for target customers.Chartis assesses new product development not in absolute terms,but in relation to a vendors closest competitors.Exploitation.Developing new products is only the first step in generating success.Speed to market,positioning of new products an
295、d translation to incremental revenues are critical success factors.New business models.Innovation is not limited to the product dimension.Some risk technology vendors are also actively working toward new business models for generating profitable growth.Table 2:RiskTech100 assessment criteria(continu
296、ed)Source:Chartis Research Copyright Infopro Digital Services Limited 2022.All Rights Reserved36|RiskTech100 2023Advisory servicesAdvisory services and tailored research provide a powerful way for Chartis clients to leverage our independent thinking to create and enhance their market positioning in
297、critical areas.Our offering is grounded in our market-leading research,which focuses on the industry and regulatory issues and drivers,critical risk technologies and leading market practices impacting our sector.We use our deep insight and expertise to provide our clients with targeted market and in
298、dustry analysis,tailoring content to assess the impact and potential of relevant regulatory and business issues,and highlighting potential solutions and approaches.Chartis advisory services include:Market dynamicsThe markets that our clients vendors,institutions and consultants address are changing
299、at an ever-increasing pace.Understanding the market dynamics is a critical component of success,and Chartis uses its deep industry and technical knowledge to provide customized analysis of the specific issues and concerns our clients are facing.Market positioningIn todays highly competitive market,i
300、t is no longer enough simply to have a leading product or solution.Buyers must be able to appreciate the differentiating capabilities of your brand and solutions,and understand your ability to help them solve their issues.Working with our clients,we generate compelling,independent co-branded researc
301、h,targeting critical business issues.This helps our clients to position their solutions effectively,own key issues and stand out from the crowd.Collaborating closely with our clients,we develop pragmatic,resonant thought-leadership papers with immediate industry relevance and impact.Our offerings in
302、clude:Co-branded research on key market topics to provide a unique and compelling point of view that addresses a key industry driver and highlights the relevant issues.Reports can be tailored to varying levels of depth and can be powered by quantitative survey fieldwork,qualitative industry intervie
303、ws,our deep domain expertise or a blend of all three.Chairing roundtables and/or facilitating events and workshops to support clients in hosting compelling events that put them at the heart of the discussion.Targeted marketing through our sister brands,leveraging the power of our parent group Infopr
304、o Digital to reach across leading brands such as R,WatersTechnology,FX Week and Central Banking.Competitor analysisOur unique focus on risk technology gives us unrivalled knowledge of the institutions and vendors in the sector,as well as those looking to enter it.Through our industry experts,Chartis
305、 clients can tap our insights to gain a much deeper understanding of their competitors and the strategies they should pursue to better position themselves for success.Regulatory impact analysisThe analysis and assessment of regulatory change and implementation is one of Chartis core strengths.We can
306、 apply our insights to assess the impact of change on the market either as it applies to vendors and the institutions they serve,or on a clients specific product and customer base.We can also provide insights to guide product strategy and associated go-to-market activities,which we can execute for i
307、nternal use to drive our clients strategy or as a co-branded positioning paper to raise market awareness and buzz around a particular issue.10.How to use research and services from ChartisIn addition to our industry reports,Chartis offers customized information and consulting services.Our in-depth k
308、nowledge of the risk technology market and best practices allows us to provide high-quality and cost-effective advice to our clients.If you found this report informative and useful,you may be interested in the following services from Chartis.Copyright Infopro Digital Services Limited 2022.All Rights
309、 Reserved37|RiskTech100 2023Big Bets 2022Energy50 2022Buyside50 2022Credit Data Solutions,2022:Market and Vendor LandscapeRegulatory Reporting Solutions,2022:Market and Vendor LandscapeFinancial Crime Risk Management Systems:Watchlist Monitoring Solutions,2022;Market Update and Vendor LandscapeFor all these reports,see www.chartis-11.Further readingContact usEmail:infochartis-Phone:+1 646-490-3965 www.chartis-ChartisRsch