Financial Risk Management Software

Financial Risk Management Software Overview

Financial risk management software identifies, measures, and models risk in financial decisions, and often enables risk mitigation within those decisions as well. These tools enable lenders to meet regulatory requirements via robust reporting and improve the business’s credit risk models. These tools are designed to handle a wide range of financial risk types within balance sheets, including market risk, credit risk, and risk associated with specific “what if” deal scenarios.


In assessing loan risk, it's important to have all relevant customer data to hand to assist in making a decision. Many credit risk management tools draw on public records and multiple proprietary data sources to provide an understanding of the risk, scoring, profitability potential and creditworthiness of customers and prospects.


Top Rated Financial Risk Management Products

TrustRadius Top Rated for 2022

These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. Read more about the Top Rated criteria.

Category Videos

Financial Risk Management Explained In 5 Minutes
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Ryan O'Connell, CFA, FRM explains the Financial Risk Management profession. Covering the history of Financial Risk Management events and regulations, the degrees and certifications that financial risk managers and financial risk analysts have, and the areas in which profession...
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Financial Risk Management Products

(1-25 of 57) Sorted by Most Reviews

The list of products below is based purely on reviews (sorted from most to least). There is no paid placement and analyst opinions do not influence their rankings. Here is our Promise to Buyers to ensure information on our site is reliable, useful, and worthy of your trust.

Kyriba

Kyriba offers cloud treasury and financial management solutions. Kyriba aims to empower financial leaders and their teams with solutions for cash and risk management, payments and supply chain finance. According to the vendor, Kyriba delivers a 100% SaaS enterprise platform, bank…

Treasury Intelligence Solutions (TIS)

Treasury Intelligence Solutions (TIS) combines treasury management experience with cloud computing and virtualisation expertise. They present the TIS solution as a comprehensive, scalable, and secure SaaS solution to process, analyse and document all treasury management processes.…

D&B Finance Analytics

D&B Finance Analytics is a global credit-to-cash solution that provides Dun & Bradstreet data, analytics, and technology to help improve cash flow, increase operational efficiency, and mitigate risk. This AI-driven solution comprises two platforms – D&B Credit Intelligence…

LivePlan

LivePlan is business plan software for entrepreneurs. Features include the pitch creation, sample plans, financial assessments, and performance dashboards.

FactSet

FactSet is a provider of financial data and analytic applications for investment management and investment banking professionals.

Experian Credit Risk

Experian Risk Management helps lenders understand the aggregate risk, create appropriate credit risk policies and products, identify and retain profitable customers and automate credit granting decisions.

CGI HotScan360

CGI offers HotScan360, a fraud detection and financial risk management application for financial institutions, with included reporting and analytics.

CSI WatchDOG

Computer Services, Inc (CSI) headquartered in Paducah, offers the WatchDOG suite of financial risk management applications for banks and financial services enterprises, providing compliance news and management, regulation management, and related features.

MSCI Real Estate Enterprise Analytics

MSCI headquartered in New York has offered their real estate portfolio analysis and management tool Real Estate Enterprise Analytics.

Risk Proof

Risk Proof, a PwC Product, aims to enable organizations to act quicker to stay on top of the ever-changing world of financial risk. It streamlines risk assessments into a single platform, in order to make the entire process visual, interactive, trackable and actionable. The vendor…

ABLE Monitoring

ABLE Monitoring solution provides business users with a variety of loan monitoring capabilities over retail, corporate, and SME portfolios to enable lenders to manage customer and account relationships more profitably. ABLE Monitoring CapabilitiesBoost revenueBoost average customer…

BIC GRC

BIC GRC provides users with a holistic and process-oriented risk management system. Predefined and standardized workflows ensure reliable adherence to compliance requirements. With BIC GRC, classic business processes are automated and documented in an audit-proof manner. Its dashboards…

Wolters Kluwer OneSumX

OneSumX, from Wolters Kluwer, is a product line providing compliance management, risk management, and financial crime control.

FinScan

FinScan provides advanced sanctions and PEP compliance solutions. The product helps organizations faced with complex regulatory requirements screen customers, vendors, beneficial owners, and other associates against any internal or third party high-risk, sanctions or black lists.…

ComplySci

ComplySci is a provider of regulatory technology solutions that help compliance professionals identify, manage and report on employee conflicts of interests and compliance risk activities, including personal trading, political contributions, and other violations. Founded in 2003,…

Trovata

Trovata helps businesses automate the work it takes to gather and normalize all of its financial data. Trovata lets finance and treasury teams access, build, manage, and control their own trove of financial data – from banks, business & accounting systems, and external markets. For…

Clearwater Analytics

Clearwater Analytics is a provider of web-based investment portfolio accounting, reporting, and reconciliation services for institutional investors at thousands of organizations, headquartered in Boise. Clearwater aggregates, reconciles, and reports on more than $5.5 trillion in…

Equifax Credit Risk

Equifax Credit Risk Insight helps lenders build models help monitor delinquency, default, loss severity and mortgage borrower credit health trends at the loan level, across zip codes, vintages and market segments.

FRISS

FRISS is the provider of analytics software for fraud, risk and compliance for P&C insurers.

Predict360 Risk And Compliance Intelligence Platform

Predict360, its flagship software solution, is a Risk and Compliance Intelligence Platform augmented with Artificial Intelligence technology to predict and mitigate operational risks while streamlining regulatory compliance. Predict360 integrates regulations and obligations, compliance…

Prognoz Credit Portfolio Management

Business Intelligence specialist Prognoz headquartered in Washington, D.C. offers Prognoz Credit Portfolio Management, an application for managing credit risk associated to individual loans and borrowers.

RMS(one)

Risk Management Solutions (RMS) offers the RMS(one) platform, a risk modeling and management platform for the insurance industry.

Openlink Findur

Openlink Financial, an ION company, offers Findur, a financial risk management and analytics platform.

AuditGenius

Indecomm Global Services headquartered in New Jersey offers AuditGenius, a financial risk management tool designed to support mortgage lending and risk management and loan auditing.

Openlink Agtech

Openlink Financial, an ION company, offers Agtech (formerly dbcSMARTsoft), a financial risk management and acommodities management and trading platform.

Learn More About Financial Risk Management Software

What is Financial Risk Management Software?

Financial risk management software identifies, measures, and models risk in financial decisions, and often enables risk mitigation within those decisions as well. These tools enable lenders to meet regulatory requirements via robust reporting and improve the business’s credit risk models. These tools are designed to handle a wide range of financial risk types within balance sheets, including market risk, credit risk, and risk associated with specific “what if” deal scenarios.


In assessing loan risk, it's important to have all relevant customer data to hand to assist in making a decision. Many credit risk management tools draw on public records and multiple proprietary data sources to provide an understanding of the risk, scoring, profitability potential and creditworthiness of customers and prospects.


Risk Management and Regulatory Compliance


The main benefits of financial risk management software is to maintain regulatory compliance and mitigate financial risk in decision-making. Financial risk management software is particularly adept at the regulatory compliance aspect of financial risk due to native reporting capabilities that can automate many of the processes and reporting necessary in financial risk audits. This automation and process streamlining both saves time and reduces the chances of human error in complex, high-stakes reporting.


Financial risk management software also helps businesses be aware of and mitigate financial risk itself. Some tools focus on giving visibility into what kind of risk is associated with specific deals, market states, or or financial decisions. Others will proactively offer suggestions on how to handle or mitigate said risks, or tie the risk assessment into broader financial decision-making structures. However, the entire spectrum of tools help mitigate the damage that can come from unrealized or unplanned-for financial risk.


Financial Risk Management Software Comparison

When comparing different financial risk management software, consider these factors:


  • Integrations: Consider how frictionless the integrations are with the business’s accounting, ERP, and other core financial systems. Integration demos and reviews of certain tech stacks will likely give the best insights into how robust and efficient each integration is.

  • User-Friendly: How easy to use is the platform? User-friendliness is important to consider in financial systems not just for the sake of the user’s experience. Clear, easy-to-use systems help avoid costly errors, particularly in complex processes like financial modelling and risk auditing.


Start a financial risk management software comparison here

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Frequently Asked Questions

How is financial risk management software used?

Financial risk management software models the risk associated with various financial decisions, credit states, and market environments and helps businesses mitigate and plan for said risk.

Who uses financial risk management software?

Financial risk management software is most commonly used by financial services and institutions, although some large enterprises can also benefit from a standalone financial risk management tool.

What are the benefits of financial management software?

Financial management software helps organizations stay compliant with regulations surrounding financial risk, as well as helping businesses mitigate their financial risk and improve credit ratings in some cases.