Finastra has been positioned as a Category Leader in the Chartis RiskTech Quadrants for both banking book and trading book credit risk solutions.
The rankings are featured in a recent report published by Chartis, titled ‘Technology Solutions for Credit Risk 2.0, 2018’, which assesses the technologies that are addressing the speed, flexibility and risk profile of the lending market.
“Credit risk very rarely exists as a distinct component in a software product, but almost always as part of a value chain,” says Rob Stubbs (pictured), Head of Research at Chartis Research. “In an increasingly complex credit environment, financial institutions – and their vendors – must be able to manage the whole value chain, not just credit risk. By understanding where in the operational process credit risk sits, financial institutions can ensure they have an efficient process in place.”
According to Chartis, there has been a structural shift in the way that credit is provided, consumed, and analysed in recent years. Now, following the impact of Basel II on the way financial institutions systemised their credit assessment and analysis, a digital revolution is once again transforming the credit risk market. Chartis is calling this new normal ‘Credit Risk 2.0.’ In the wake of this transformation, new operational issues and challenges are impacting liquidity management. Financial institutions must reassess how vendors are able to meet their needs and demands. Based on specific credit risk capabilities, including data management and stress testing, Finastra earned Category Leader status for both the banking book and the trading book.
“Excellence in a broad range of credit risk capabilities has placed Finastra among the industry leaders on the Chartis RiskTech Quadrants for credit solutions, in terms of both the completeness of our offering and our market potential,” says Arnaud Picut, Global Head of Risk Management at Finastra. “This reflects a solution set that provides value beyond just compliance, offering a strategic path to transformation, with access to micro-services that form the foundation to unite disparate data sets across the organisation while adding performance, scalability, and visibility for timely and better decision-making.”
Finastra Fusion Risk comprises five risk modules that can be combined to suit a financial organisation’s specific needs, empowering financial institutions to address two interconnected goals: meeting short-term regulatory demands and optimising business performance. Fusion Risk provides a fully automated, end-to-end IFRS9/CECL solution. Integrated out of the box with Finastra’s core banking, lending and trading solutions, it features best-of-breed impairment and credit risk modelling.
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