Numerous credit and portfolio risks might cause a company to file for bankruptcy, suffer severe financial setbacks, or even face legal action. As experts in financial risk, it is your responsibility to assist them in identifying risks, quantifying the quantity of hazards, and developing strategies to manage them. You can’t afford to undertake financial risk management manually since it requires processing huge data volumes and doing complicated computations. To control your exposure to financial risks, you should use software that has been particularly created for this purpose, as many financial experts and institutions use.


10+ Best Top Financial Risk Management Software

1. D&B Finance Analytics

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Rating: 4/5

Price: Custom

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2. LivePlan

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Rating: 4.5/5

Price: $15/Month

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3. FactSet

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Rating: 4.2/5

Price: $12000/Year

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4. ComplySci

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Rating: 4.6/5

Price: Custom

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5. Equifax Credit Risk

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Rating: 4/5

Price: Custom

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6. FinScan

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Rating: 4/5

Price: Custom

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7. Trovata

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Rating: 4.4/5

Price: $2400/Month

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8. FRISS

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Rating: 4.2/5

Price: Custom

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9. Abrigo

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Rating: 4.7/5

Price: Custom

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10. DXtrade

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Rating: 4/5

Price: Custom

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11. Fraudio

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Rating: 4/5

Price: Custom

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What Is Financial Risk Management Software?

Financial services organizations (banks, insurance companies, and asset management businesses, among others) may perform in-depth research, generate financial reports, and simulate investment scenarios with the use of financial risk management software. It does this by automating processes like budget forecasting, risk modeling, and auditing. This kind of software, which belongs to the area of financial services software, imports market data to help with analysis. Some financial risk software products link with other data sources and integrate with financial research software to provide a more complete collection of data to work with.

Benefits

To put it mildly, controlling financial risks is a difficult undertaking. Complex computations and a lot of data are used in this procedure. The work at hand is challenging enough, but as a financial services company, you also have other operations to handle in addition to managing financial risk. But with the use of financial risk management software, the whole load may be eliminated. This program automates steps in the risk management procedure. With that, it will be simpler for you to assess risks, produce reports using pertinent data, import data from new or current sources, and sequentially record past data.

Features

Web browsers and mobile application platforms both provide access to solutions for financial risk management. Because the vendor is responsible for data storage, server maintenance, and regular upgrades, you won’t have to be concerned about these aspects of the service. In order to assist you in narrowing your product choice, the following are some of the common characteristics of a solution for financial risk management:

Top 10 Financial Risk Management Software

1. Kyriba

Financial executives and their teams are given the tools they need by Kyriba to manage liquidity, create value, and minimize risk. Kyriba’s innovative Active Liquidity Network connects internal applications for treasury, risk, payments, and working capital with crucial external sources, including banks, ERPs, trading platforms, and market data providers.

2. Murex

The MX.3 from Murex bridges the gap between financial risk management systems and capital market operators. By providing cutting-edge risk solutions, the platform allows financial services organizations to engage in capital markets and effectively manage credit, liquidity, and market risk across all asset classes despite complicated and extensive regulatory constraints.

3. SmartRisk

A financial risk management tool called SmartRisk was created specifically to assist financial advisers in monitoring portfolio risk in order to encourage clients to make portfolio modifications, keep customers on board during a down market, and guard against clients making poor investment decisions. Clients often lack market risk sensitivity and have false downside expectations that are either overly cautious or excessively reckless, which leads to incorrect investment allocations. SmartRisk enables advisers to effectively interact with customers and prevent poor investing decisions.

4. FactSet

The program for managing financial risks that focuses on time management issues is called FactSet. The software has multi-asset class portfolio analytics, which helps advisors manage data more quickly. Customers get an unrivaled mix of portfolio equity and fixed income analytics, data concordance management, workflow capabilities, and data dissemination for internal and external clients with enhanced portfolio analytics, performance, and attribution.

5. Calypso

Calypso offers cross-asset solutions for treasury, securities, trading, risk, processing, control, and derivatives systems. Users of Calypso include buy-side companies like investment managers, asset managers, hedge funds, family offices, insurers, and corporations as well as exchanges, clearers, and service consortiums that offer treasury services. Sell-side financial institutions using Calypso include banks and prime brokers.

6. FINCAD

A vendor of integrated software for managing financial risk and multi-asset portfolios is FINCAD. The platform is open and transparent, and all models, computation techniques, and references are documented. Companies, including those engaged in investment management, brand asset management, hedge funds, pension funds, banks, auditing, and insurance, are some of the program’s customers.

7. GTreasury

A cloud-based end-to-end workflow for integrated treasury management and financial risk management solutions and services is available to businesses via the GTreasury platform. With its single database, connection, and workflow, technology is unified and work is done more intelligently. GTreasury is a SaaS system that may combine banking, accounting, risk management, payments, cash management, financial instruments, and hedge accounting.

8. D&B Credit

Using industry-leading data and analytics from Dun & Bradstreet, D&B Credit is a cloud-based financial risk management platform. Powerful portfolio segmentation capabilities, customizable alert monitoring, and easily readable digital credit reports allow finance and credit professionals to work more efficiently and promote sustainable and profitable development. The system offers customized displays and tagging options to allow for flexible management of client portfolios. It also supports numerous languages and currencies.

9. MetricStream

Enterprise and cloud solutions for governance, risk, and compliance are offered by MetricStream, a market leader (GRC). The business created the well-known M7 Operational Risk Management system, which offers several tools for establishing effective operational risk management. The solution is simple to incorporate into users’ organizations’ risk management procedures, which improves financial performance and safeguards equity and investment money.

10. Reval

Reval is a top treasury and risk management platform that helps customers with their use of financial instruments and hedging operations by managing cash, liquidity, and financial risk via its cloud-based products. Clients may increase operational effectiveness, security, control, and compliance using the cloud platform, which improves perforQmance overall.

FAQ

Do Financial Risk Management Solutions run on the web or on mobile devices?

In reality, mobile apps and web browsers may both access financial risk management software.

How important is financial risk management in the business?

It aids the company in coordinating and managing the relevant business data and procedures. It gives the possibility for performance measurement and revenue sources a better understanding. You may relate your economic cycle to the model’s risk variables.

What are the File Formats available for downloading Financial Risk Reports?

You have the option of using a dashboard to see customized reports on pertinent data or downloading those reports in a variety of formats such as PDF, XML, or CSV.

Among the prevalent types of financial risk are credit risk, liquidity risk, asset-backed risk, foreign investment risk, equity risk, and currency risk. These might cause financial loss or even legal penalties if ignored. Protect your financial assets from these hazards by taking quick action. Use financial risk management tools to ease the transition into your new position.


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