London – 7 November 2011: Compliance and integration to drive risk technology expenditure according to the sixth edition of Chartis Research’s RiskTech100® report.
"There is a quiet revolution taking place in the financial services industry, where the disciplines of risk and finance are converging," comments Peyman Mestchian, Managing Partner of Chartis Research. He says that it is characterised by better alignment of the CFO and CRO and is leading to a re-think of organisational structures, business processes and underlying technology architectures.
While Mestchian says that regulation continues to play a major role in driving demand for risk technology, he also points to a trend towards "value-based compliance" moving away from the traditional "tick box" mentality.
However, the technology does not come cheap and Chartis estimates that in the financial services sector alone, organisations will spend over $23 billion in 2013. Much of the expenditure is driven by the proliferation of regulations such as Dodd Frank, Basel II, Basel III and Solvency II.M&A activity helped to improve the positions of some of the companies appearing in the RiskTech100® rankings. The top five places are occupied by IBM, SunGard, SAS, Oracle and Moody’s Analytics. Geographically, the list of top risk technology vendors is dominated by the US, with fifty companies, followed by the UK with eighteen companies, France with seven and Canada with four.
"Risk technology vendors are responding to new market demands for robust, more cost effective integrated solutions, through continuous product innovation and integration," Mestchian adds.
About the RiskTech100®
The RiskTech100® is recognised globally as the most comprehensive and prestigious study of the top technology companies active in the risk management market and is available from www.chartis-research.com. RiskTech100® is a Registered Trade Mark of Chartis Research Limited
About Chartis Research
Chartis is the leading provider of research and analysis on the global market for risk technology. Its goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. Chartis helps clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. Chartis is authorised and regulated by the Financial Services Authority (FSA) for providing investment advice - (www.chartis-research.com).