Various types of credit and portfolio risks may lead an entity into bankruptcy and other financial disasters, or even lawsuits. As financial risk professionals, your job is to help them identify risks, measure the number of risks, and generate plans on how to deal with them. Due to the complexity of financial risk management, from handling large sets of data to complex calculations, you can’t afford to do it manually. This is why, like many financial analysts and institutions, you should leverage a software that is specifically designed to help manage exposure to financial risks.


What does the software do? How does it help? Let’s find out more in today’s blog. But first, let us give you a quick view of the top choices of financial risk management software in the market.

11+ Financial Risk Management Software

1. Fiserv

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Rating: 5/5

Price: Custom

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2. Oxagile

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Rating: 5/5

Price: Custom

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3. RISKTURN

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Rating: 4.6/5

Price: $95/month

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4. Fraud.Net

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Rating: 5/5

Price: Custom

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5. Factset

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Rating: 5/5

Price: Custom

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6. Kyriba

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Rating: 5/5

Price: Custom

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7. Signifyd

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Rating: 4.8/5

Price: Custom

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8. Hiddenlevers

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Rating: 5/5

Price: FREE

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9. Tipalti

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Rating: 5/5

Price: Custom

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10. D & B Credit

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Rating: 5/5

Price: Custom

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11. FINCAD

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Rating: 5/5

Price: Custom

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12. Gtreasury

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Rating: 5/5

Price: Custom

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What Is Financial Risk Management Software

Financial risk management software helps financial services institutions (banks, insurance firms, and asset management firms, among others) in conducting in-depth analysis, generating financial reports, and simulating investment scenarios. It does so by automating functions such as auditing, risk modeling, forecasting, and more.

This type of software is part of the financial services software category and imports market data to assist in conducting analysis. Some financial risk software tools integrate with financial research software and connect with other data sources to offer a more comprehensive set of data to work with.

Benefits

Managing financial risks is a challenging task, to say the least. This process involves large volumes of data and complex calculations. The task itself is already complicated, and aside from financial risk management, there are also other processes that you need to oversee as a financial services institution. But all the burden can be taken away with the help of financial risk management software. This software automates functions related to the risk management process. With that, it will be easier for you to analyze risks, create reports based on relevant data, import data from new or existing sources, and record historical data in a step-by-step progression.

Features

Financial risk management solutions are accessible through web browsers or mobile apps. You won’t have to worry about data storage, server maintenance, and periodic updates — these are the vendor’s responsibility.

To help narrow your product choice, here are the common features of a financial risk management solution:
– financial risk reporting
– scenario planning
– portfolio modeling
audit trails

Top 10 Financial Risk Management Software

1. Riskalyze

Riskalyze empowers investment advisors to capture a quantitative measurement of client risk tolerance, and use that data to attract new clients, capture, and meet expectations and quantify suitability. Riskalyze has 190 employees and makes $39M in revenue.

2. HiddenLevers

HiddenLevers is a risk management platform that offers next-level applications for the wealth management space. Features include cutting-edge macro-scenario library portfolio stress testing, model construction, investment proposal generation, and enterprise risk and revenue monitoring.

HiddenLevers has 62 employees and makes $11M in revenue.

3. FactSet Portfolio & Risk Analytics

FactSet Portfolio & Risk Analytics is an integrated multi-asset class portfolio analytics platform and an official performance solution that lets users spend more time finding answers and less time managing data. FactSet has a company size of 10,484 employees and makes $1B in revenue.

4. Smart RIA

Smart RIA software combines back-office efficiencies with Federal and State compliance to offer an all-in-one RIA management platform. Smart RIA has 6 employees and makes $1M in revenue.

5. Financial Risk Management

Fiserv offers Financial Risk Management to support asset-liability management, market risk, credit risk, liquidity risk, interest-rate risk, and funds transfer pricing capabilities to give your organization a true enterprise view of risk.

Fiserv has a company size of 44,000 employees and makes $14B in revenue.

6. SmartRisk

SmartRisk is designed specifically for financial advisors. This financial risk management tool helps users set proper downside expectations with their clients. With SmartRisk, financial advisors can analyze portfolio risk and easy communication with clients on how to avoid costly mistakes.

SmartRisk has 6 employees and makes $1M in revenue.

7. LoanHD

LoanHD from LoanLogics is a residential mortgage solution that helps validate compliance, manage profitability and risk during manufacturing, and sale and servicing of loan assets.

8. OnePlace Risk & Compliance

Intapp offers OnePlace Risk & Compliance is designed for risk and compliance professionals to help them thoroughly evaluate a new business, onboard clients quickly, and manage risks throughout the client lifecycle. Intapp has 754 employees and makes $186M in revenue.

9. SAS Enterprise Case Management

SAS Enterprise Case Management is a centralized hub that gives investigators and operational risk managers secure access for teams across the enterprise. SAS has 14,000 employees and makes $3B in revenue.

10. At-Bay

At-Bay offers insurance products and services that empower companies to embrace technology fearlessly in this digital age. At-Bay has 38 employees and makes $35M in revenue.

FAQ

Are Financial Risk Management Solutions Web-based or Mobile-based?

Financial risk management software is, in fact, accessible through web browsers and mobile applications.

What Is Scenario Planning?

Scenario planning is a feature in financial risk management software that helps you predict and analyze future events that may have a financial impact. This step is otherwise known as “what-if” scenarios vis a vis changes to inflation, rates, operating costs, product prices, and interest rates, among others.

In What File Formats Can Financial Risk Reports Be Downloaded?

Custom reports on relevant data can be downloaded in various formats like PDF, XML, CSV, etc., or viewed through a dashboard.

Credit risk, liquidity risk, asset-backed risk, foreign investment risk, equity risk, and currency risk are among the common forms of financial risks. Left unaddressed, these can result in financial loss or even legal liabilities. Protect your financial assets from such risks; address them early on. Take advantage of financial risk management software to get you started seamlessly.


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