Financial Risk Management Software
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.
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.…
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…
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…
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…
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.