MetricStream Positioned as Category Leader in Chartis RiskTech Quadrant® for Operational Risk Management Systems Evaluation based on completeness of offering and market potential
PALO ALTO, Calif., July 1, 2014 /PRNewswire/ -- MetricStream, a market leader in Governance, Risk, and Compliance (GRC) solutions announced that it has been positioned by Chartis as a "Category Leader" in their RiskTech Quadrant® for Operational Risk Management Systems. According to Chartis, "Category leaders are risk technology vendors that have the necessary depth and breadth of functionality, technology, and content, combined with the organizational characteristics to capture significant market share by volume and value."
Commenting on the report, Peyman Mestchian, Managing Partner at Chartis said, "What makes a financial institution "safe" is not its aversion to risks, but its ability to withstand future crises through a mature operational risk program. It's no surprise then that operational risk has overtaken credit risk to become the most important risk type in the financial services industry. Customers are looking for a solution that can integrate OpRisk with other risk disciplines and assurance functions, and also provide advanced analytics to predict potential losses."
The Chartis report highlights several key trends, including the consolidation of operational risk management systems into enterprise operational risk platforms; the integration between operational risk systems and cyber-security; the focus on loss data collection; and the increasing variety of advanced analytical models, such as factor-based models, artificial intelligence systems, and concept maps.
MetricStream Operational Risk Management Solution addresses these trends through a federated and flexible approach. The solution is built on a scalable GRC platform that extends across the enterprise, integrating operational risk management with other risk processes (including enterprise risk management and IT risk management), as well as other GRC functions (such as audit and compliance). The system enables risk assessments, scoring, and reporting, as well as loss event tracking, KRI monitoring, issue management, and scenario assessment. Graphical dashboards and risk heat maps enable real-time risk visualization which, when combined with advanced analytics, helps companies effectively anticipate and mitigate risks.
The Chartis report notes, "The Operational Risk Management software solution from MetricStream includes capital calculation, risk analytics and thematic reporting capabilities. The solution can document and assess operational risks, define controls, manage audits, and implement recommendations and remediation plans. MetricStream's ORM solution provides a platform for organizations to develop an integrated ORM approach which can help them qualify for the AMA approach."
"We are pleased to be profiled as a leader by Chartis," said Piyush Pant, Vice President, Strategic Markets at MetricStream. "The best-known large and mid-sized financial services organizations continue to choose our solution to streamline, integrate, and automate their operational risk management processes. We strive to push the bar even higher by adding innovative new capabilities such as social media risk management, and by leveraging the power of big data analytics and mobility to advance operational risk management to the next level."
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.
RiskTech Quadrant® is a registered trade mark of Chartis Research limited.
Chartis Research is authorized and regulated by the Financial Conduct Authority (FCA) for providing investment advice - (www.chartis-research.com).
MetricStream is a market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream's customers include Procter & Gamble Co., UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg's, Mondelez International, SanDisk, NetApp, and United Technologies Corporation (UTC). MetricStream also owns and operates www.ComplianceOnline.com portal - the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA(www.metricstream.com).
Mr. Vinay Bapna