Report recognizes Finastra for both banking book and trading book operations
“Credit risk very rarely exists as a distinct component in a software product, but almost always as part of a value chain,” said Rob Stubbs, 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 analyzed in recent years. Now, following the impact of Basel II on the way financial institutions systemized 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,” said 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 organization 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 organization’s specific needs, empowering financial institutions to address two interconnected goals: meeting short-term regulatory demands and optimizing 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 modeling.
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.
Please visit finastra.com.
About Chartis Research
Chartis 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’ goal 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.