The risk analytics technique measures, quantifies, and predicts risks from the past data. It provides organizations with valuable insights to make better decisions and increase revenue while reducing the risk costs. The risk analytics process includes identifying risks, categorizing them according to priority, and quantifying them based on historical data, information from firms, and third-party establishments. The risk analytics market comprises risk analytics software and services embedded with techniques that comprehensively measure, quantify, and predict risks through effective utilization of historical data. The organizations are prone to various types of risks, such as credit risk, hedging risk, governance risk, fraud risk, and technology risk, which can be detrimental to their business in terms of loss of revenue and goodwill in the market. A risk analytics software facilitates enterprises to establish a baseline for measuring risk across various verticals, such as banking and financial services, insurance, healthcare and life sciences, and retail and consumer goods by incorporating all the facets of risks together into a single unified system that provides the key decision maker in an organization with adequate clarity in identifying, viewing, understanding, and managing the risks.

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

The vendors are placed into 4 categories based on their performance in each criterion: “vanguards,” “innovators,” “emerging,” and “dynamic.” The top 25 vendors in the risk analytics market have been evaluated, including Advanced Risk Analytics Private Limited, AxiomSL, Inc., BlackRock, Inc., CubeLogic Ltd., Equarius Risk Analytics, Fidelity National Information Services Inc., Gurucul, International Business Machines Corporation, IsoMetrix, Markit Group Limited, Misys ,Montana Analytics LLC, Moody Corporation, MSCI Inc., NICE, Oracle Corporation, Provenir, Quaternion Risk Management Ltd., Risk Based Security, Risk Edge Solutions, SAI Global Pty Limited, SAP SE ,SAS Institute Inc., Verisk Analytics, Inc., and Windbeam Risk Analytics, LLC.

VISIONARY LEADERS

Vendors who fall into this category receive high scores for most of the evaluation criteria. They have strong and established product portfolios and a very strong market presence. They provide mature and reputable risk analytics software and services. They also have strong business strategies. Vendors who fall under this category are Fidelity National Information Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, and SAS Institute Inc.

INNOVATORS

Innovators in this MicroQuadrant are vendors that have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have a very strong growth strategy for their overall businesses. Vendors who fall under this category are Advanced Risk Analytics Private Limited, AxiomSL, Inc., BlackRock, Inc., Equarius Risk Analytics, Gurucul, LogicManager, Inc, Markit Group Limited, Misys, MSCI Inc., Provenir, Risk Based Security, Risk Edge Solutions, and Windbeam Risk Analytics, LLC.

DYNAMIC DIFFERENTIATORS

They are established vendors with very strong business strategies. However, they are low in their product portfolios. They focus on a specific type of technology related to the product. Vendors who fall under this category are Moody Corporation, and Verisk Analytics, Inc.

EMERGING COMPANIES

They are vendors with niche product offerings and are starting to gain their positions in the market. They do not have many strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before getting a significant traction in the market. Vendors who fall under this category are CubeLogic Ltd., IsoMetrix, Montana Analytics LLC, NICE, SAI Global Pty Limited

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EVALUATION CRITERIA

Below criteria are most commonly used for comparing Risk Analytics Software tools.
  • Breadth and Depth of Product Offerings
    • Provide a list of Risk Analytics product
    • Product variants or licenses (such as enterprise, professional) offered
    • Services Offered
      • Training support and maintanence services
      • Consulting services
      • Managed Services
      • Any other professional services
    • Amongst the listed software, which of the following does your product provides
      • Extract, transform and load (ETL) tools
      • Risk Calculation Engines
      • Scorecard and Visualization Tools
      • GRC Software
      • Other Applications ( Portfolio Management, Operation Risk Analysis)
  • Product Features and Functionality
    • Batch-data/Real-time procssing technique
    • Which of the following type of risk is supported by your risk analytics product?
      • Market Risk
      • Credit Risk
      • Operations Risk
      • Enviornment Risk
      • Strategic Risk
    • What type of solutions your product is offering?
      • Information Extraction
      • Analytical Engine
      • Scorecard Generation and Data Visualization
      • Risk Reporting
      • Complicance
      • Other Solutions
    • What are the applications your product provide in the risk analytics market ?
      • Fraud Detection and Prevention
      • Liquidity Risk Analytics
      • Credit Risk Management
      • Real-time situational awareness
      • Industry benchmarking and validation
  • Delivery
    • Which of the following is the most preferred mode of delivery at client locations?
      • Full Time Equivalent
      • Subscription / Licensing
      • Per User Basis
    • Which of the following end-user(s) does your risk analytics product caters to?
      • Manufacturing
      • Retail
      • Finacial Services
      • Healthcare and Life Sciences
      • IT and Telecommunication
      • Governmnet and Defense
      • Media and Entertainment
      • Energy
      • Other, please specify
    • Which of the following deployment model do you provide?
      • Hosted / On-Cloud
      • On-Premise
    • How do you deliver your solutions to your customers?
      • Directly
      • Through Partners / Third-Party Vendors / MSSPs
  • Support and Services
    • Support (such as silver, gold, and platinum) offered
    • Customer redressal mechanism/program in case of customer complaints/grievances
    • Which of the following type(s) of support service your company offers?
      • Technical Support
      • Sales Support
      • Customer Support
      • Other Support Services
    • Which of the following pre-sales support activities do you provide?
      • Software Requirement Specification (SRS)
      • Proof of Concept
      • Product Demos
      • Dedicated Account Manager (DAM)
    • Which of the following is the most preferred medium of delivery of support services?
      • On-Site Support
      • Remote Support

TOP VENDORS (42)

  • 1

    IBM's Risk Analytics Framework offers an end-to-end solution for risk identification, modelling, measuring, monitoring, risk management and reporting. The risk management abilities of IBM products help users not only to achieve Solvency II compliance, but also allow them to make risk-aware business decisions. The framework also allows seamless integration with existing risk modelling and actuarial tools, ensuring consistency of models and data across different systems.

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    • Enterprise
    • New York, USA
    • Founded: 1911
    • $50BN to $100BN
    • 1,00,001 to 5,00,000
  • 2

    SAP risk analytics solution takes a systematic approach to develop and adopt robust and sustainable risk management solutions. The risk analytics software solution defines the entire risk-relevant business activities and develops risk libraries to report risk assessment conclusions and to automate risk monitoring. The software technical capabilities include offering easy intuitive dashboards and business user interfaces, and easy data processing, thus facilitating customers to gain the advantage

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    • Enterprise
    • Weinheim, Germany
    • Founded: 1972
    • $10BN to $50BN
    • 75,001 to 1,00,000
  • 3

    RiskMonitor distinguishes itself with the ability to function on any source data structure, in a multi-user, high-performance analytical environment. It offers user-friendly application components to set-up, operate and maintain the solution’s tasks and work flow. The solution offers a good deal of flexibility and it integrates best practice methodologies resulting from extensive and continuing investments in research and development. AxiomSL's ControllerView platform provides data lineage, risk aggregation, workflow automation, validation and audit functionality. It also supports disclosures in various formats, including XBRL.

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    • Enterprise
    • 501 to 1,000
  • 4

    GRA is the only security analytics platform that has the capability to ingest any data from any source, including proprietary business applications, to provides users with the most accurate all dimensional view of an entity’s behavior. Moreover, GRA runs on the user's choice big data platform: Hadoop, Hortonworks, Cloudera, Amazon EMR and more. The solution capitalizes on Gurucul Data Mine, which is an open source big data backend. GRA uses this contextual information for machine learning, behavior analytics and deep learning.

    Read More
    • Startup
    • Los Angeles, US
    • Founded: 2010
    • 501 to 1,000
  • 5

    Oracle's software software facilitates enterprises and organizations to identify confidence levels for each of their projects and offers extensive techniques that help in determining contingency and risk response plans. Oracle’s Primavera Risk Analysis solution is one-of-a-kind of risk analytics solution available in the market today that integrates predeveloped risk registers and defines new risk registers as per the needs of the user. Oracle Financial Services Operational Risk Analytics enables financial organizations to perform historical and predictive analysis using preconfigured reports, charts, and dashboards that help them to effectively identify, monitor, and report risks that can be detrimental for operational losses occurring in banks.

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    • Enterprise
    • California, USA
    • Founded: 1977
    • $10BN to $50BN
    • 1,00,001 to 5,00,000
  • 6

    Moody's RiskAnalyst brings uniformity in the way organization's collect, analyze and store credit data, setting the groundwork for sound internal credit practices for organizations of all sizes across a wide-range of industries. The solution also provides a consolidated view of each client across a wide-range of assets including company financials, real estate holdings, borrower financials and other pertinent data. The solution streamlines the user's credit decision process and identifies the user's single-obligor and transaction risk lie by having a single source for all data.

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    • Enterprise
    • New York City, New York, US
    • Founded: 1909
    • $1BN to $5BN
    • 10,001 to 15,000
  • 7

    The FIS Early Risk Manager provides access to over 3,300 compliance checklist, which facilitates enterprises to automate their compliance monitoring and testing programs to self-detect the problems and correcting them. The FIS CyberForce Solution is focused to detect cyber vulnerabilities in the systems and is capable of analyzing millions of records in the organization and triggers alerts in case of any data breach that ultimately helps organizations to detect emerging botnet attacks, and prevent losses and damages to reputations. The FIS ChexAdvisor is suitably designed to provide BI solutions to firms so that it can help them mitigate risks and help them in ascertaining risk assessment on commercial and small business applicants through its BizChex solutions.

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    • Enterprise
    • Florida, USA
    • Founded: 1968
    • $10BN to $50BN
    • 50,001 to 75,000
  • 8

    SAS offers various risk analytics solutions, which are a part of its enterprise risk management. The solutions are SAS BookRunner, SAS Model Risk Management, SAS Capital Planning and Management, SAS Credit Scoring, SAS Enterprise GRC, SAS Firmwide Risk for Solvency II, SAS Model Risk Management, SAS High-Performance Risk, SAS Model Implementation Platform, SAS OpRisk VaR, SAS Regulatory Risk Management, SAS Risk Data Aggregation and Reporting, SAS Risk Dimensions, SAS Risk Management for Banking, SAS Risk Management for Insurance, SAS Risk Modeling Workbench, and SAS Risk and Finance Workbench.

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    • Enterprise
    • North Carolina, USA
    • Founded: 1976
    • $1BN to $5BN
    • 10,001 to 15,000
    • SME
    • Sydney, New South Wales, Australia
    • Founded: 1922
    • $101MN to $500MN
    • 1,001 to 5,000
    • Startup
    • New York City, New York, US
    • Founded: 1992
    • Below $10 MN
    • 51 to 100
  • 11

    Verisk Analytics works on unique data assets and deep domain expertise to deliver innovations that are integrated into customer workflows. The company offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Their solutions offer a powerful combination of capabilities to support customers in assessing the price risk with better accuracy, and and enhanced operational efficiency.

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    • Enterprise
    • Jersey City, New Jersey, US
    • Founded: 1971
    • $1BN to $5BN
    • 5,001 to 10,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Startup
    • Cambridge, Massachusetts, US
    • Founded: 2014
    • Below $10 MN
    • 51 to 100
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • Hamel, Minnesota, US
    • Founded: 2002
    • $500MN to $1BN
    • 51 to 100
    • Enterprise
    • Ann Arbor, Michigan, US
    • Founded: 2013
    • 501 to 1,000
  • 20

    Risk Edge is one of the fastest-growing risk analytics companies that focuses on the energy and commodities industry vertical. The company is instrumental in selling and implementing risk software projects to various multinational companies. It provides software, which is not only cost-effective and scalable but also uses advanced analytics, such as ML algorithms and predictive analytics insights, to correctly predict the risks associated with the energy and commodities industry vertical. RiskEdge has been created ona globally accepted VaR Framework, and it has been thoroughly tested to assure accurate results.

    Read More
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • New York City, New York, US
    • Founded: 1988
    • $10BN to $50BN
    • 10,001 to 15,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Enterprise
    • 501 to 1,000
    • Startup
    • California, USA
    • Founded: 2013
    • $11MN to $50MN
    • 101 to 500
    • Startup
    • California, USA
    • Founded: 2006
    • $11MN to $50MN
    • 101 to 500
    • SME
    • California, USA
    • Founded: 1997
    • $101MN to $500MN
    • 501 to 1,000
    • Startup
    • Ontario, Canada
    • Founded: 1984
    • Below $10 MN
    • 51 to 100
    • Startup
    • Illinois, USA
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
    • Startup
    • California, USA
    • Founded: 2013
    • Below $10 MN
    • 101 to 500
    • Startup
    • Connecticut, USA
    • Founded: 2006
    • Below $10 MN
    • 51 to 100
    • Enterprise
    • California, USA
    • Founded: 1956
    • $500MN to $1BN
    • 1,001 to 5,000
    • Startup
    • California, USA
    • Founded: 2007
    • $51MN to $100MN
    • 101 to 500
    • Startup
    • California, USA
    • Founded: 2008
    • $51MN to $100MN
    • 101 to 500
    • SME
    • New York, USA
    • Founded: 1975
    • $101MN to $500MN
    • 1,001 to 5,000
    • Startup
    • Bracknell Forest, UK
    • Founded: 1987
    • Below $10 MN
    • 51 to 100
    • Enterprise
    • Pennsylvania, USA
    • Founded: 1993
    • $500MN to $1BN
    • 1,001 to 5,000
    • Startup
    • California, USA
    • Founded: 2012
    • $11MN to $50MN
    • 51 to 100
    • Startup
    • New York, USA
    • Founded: 2004
    • $101MN to $500MN
    • 501 to 1,000
    • Enterprise
    • California, USA
    • Founded: 2003
    • $1BN to $5BN
    • 1,001 to 5,000
    • Enterprise
    • California, USA
    • Founded: 1979
    • $1BN to $5BN
    • 10,001 to 15,000
    • Enterprise
    • California, USA
    • Founded: 1997
    • $1BN to $5BN
    • 5,001 to 10,000

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Marie Stelle

Engagement Partner - 360Quadrants.com