Risk technology spending to hit $23 billion by 2013

London – 7 November 2011: Compliance and integration to drive risk technology expenditure according to the sixth edition of Chartis Research’s RiskTech100® report.

"There is a quiet revolution taking place in the financial services industry, where the disciplines of risk and finance are converging," comments Peyman Mestchian, Managing Partner of Chartis Research. He says that it is characterized by better alignment of the CFO and CRO and is leading to a re-think of organizational structures, business processes and underlying technology architectures.

While Mestchian says that regulation continues to play a major role in driving demand for risk technology, he also points to a trend towards "value-based compliance" moving away from the traditional "tick box" mentality. 

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Compliance – Keeping up with the Regulations

Organisations in many industries are facing a wave of new regulation and pressure from external stakeholders, including governments, regulators and clients, to improve their governance. Ensuring compliance in this changing regulatory environment is a challenge for many organisations, as is ensuring that the internal controls environment is robust and effective.

Developing and managing an effective, 'no surprises' internal controls environment is the only way to provide assurance to management, regulators and other stakeholders that your organisation is operating in a controlled manner and meeting its regulatory and legal responsibilities.

StratexPoint is specifically designed to support organisations in developing a robust and effective internal controls environment. The solution enables users to:

· Define key controls

· Define processes and systems, and their related risks and controls

· Define a set of Key Controls Indicators

· Assess controls related to the processes and systems

· Define accountability for risks and controls to individuals

· Automate process and systems related risk and controls dashboards and reporting, while enabling advanced analytics

· Encourage a collaborative approach to delivering performance via commentary, alerts and other web 2.0 collaboration capabilities Automating risk and controls dashboards and reporting, while enabling advanced analytics