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.

Top 10 Risk Analytics software Vendors

  1. IBM CORPORATION
  2. SAP SE
  3. AXIOM
  4. GURUCUL
  5. ORACLE
  6. MOODY'S INVESTORS SERVICE
  7. FIDELITY INFORMATION SERVICES (FIS)
  8. SAS INSTITUTE
  9. VERISK ANALYTICS
  10. RISK EDGE SOLUTIONS

Top Applications of Risk Analytics Software

Companies are susceptible to different types of risks, such as credit risk, hedging risk, governance risk, fraud risk, and technology risk, which can be harmful to their business in terms of revenue loss and market goodwill. Some of the applications are:

  1. Credit Risk Management
  2. Fraud Detection and Prevention
  3. Industry benchmarking and validation
  4. Liquidity Risk Analytics
  5. Real-time situational awareness
  6. Operational risk management
  7. Human resource risk management
  8. Project risk management

Top Features of Risk Analytics Software

  1. Account Takeover Mitigation
  2. Device Trust Monitoring
  3. Transaction Fraud Monitoring
  4. Mobile Risk Device Monitoring
  5. Malware Activity Monitoring
  6. Continuous Risk Monitoring
  7. Customizable Reporting
  8. Machine Learning-based Risk Analysis
  9. Digital Channel Unification
  10. Automated Fraud Alerts

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.

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.

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.

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

Risk Analytics Software

Comparing 42 vendors in Risk Analytics Software across 151 criteria.
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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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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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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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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.
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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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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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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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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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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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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.
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