Attention Vendors: Clients Need New Ways to Manage Risk

Quantifi recently released survey results concerning how financial firms plan on implementing new solutions in order to manage and measure their counterparty risk. According to the survey results, 100 percent of respondents either have already or plan on implementing major changes in their counterparty risk systems, but what is the need behind this sudden system overhaul?

According to the survey results two of the biggest reasons seem to be the need to overcome the current challenges in both data management and integration. Another driving force is the current regulatory and market changes that are going on. These changes are causing firms to modify the way they calculate and manage counterparty credit risk, according to Quantifi’s CEO, Rohan Douglass. There is no ‘one size fits all’ approach to counterparty risk management, adds David Kelly, Head of Credit Products at Quantifi, therefore different firms will need different solutions.

What does this all mean for the vendors? Survey results show that one out of three financial firms are either implementing or evaluating vendor counterparty risk and CVA systems. This is a tremendous opportunity for vendors to gain new clients and to create new and innovative solutions for those in need of new risk systems. What vendors will be the ones step up to the plate and take advantage of the current situation, and who already has? I believe that the sooner these vendors jump on these current prospects, the more successful they will be.

About Maureen Lowe

President and Founder of Financial Technologies Forum, LLC. Editor-In-Chief of FTF News. Entrepreneur, Jersey Girl that recently returned to Jersey, Loves to Bake, Married to a Kiwi, First Time Mom
This entry was posted in Back-Office, Financial Technology, Operational Risk and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s