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Risk Management and Basel II: Comparing the Financial and Credit Risk Solution Vendors

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21 February 2006
Cubillas Ding

Abstract

London, United Kingdom February 22, 2006

Risk Management and the Basel II Game: Comparing the Financial and Credit Risk Solution Vendors

Celent urges institutions in the market for financial/credit risk systems to thoroughly assess their needs against the broad spectrum of available solutions and services.

Risk management budgets are growing in reaction to mounting pressure to integrate financial risk management practices. As a result, financial institutions have more money to spend on risk management solutions. In addition to the main elements of a Basel II solution (like capital calculators, reporting, data warehouses, and data management tools), institutions will place greater emphasis on replacing "peripheral" applications for activities in areas such as asset/liability management, limits management, and credit scoring.

In a new report, , Celent assesses offerings from seven vendors. The report examines the state of the market for Basel solutions and the innovative vendors that are helping institutions meet Basel II requirements. The report also examines the lessons learned from the first-wave institutions that have purchased Basel II solutions.

There are several vendors offering financial/credit risk and Basel solutions from diverse backgrounds. Some vendors are "new" to risk management, while others have functionality covering multiple areas, which can sometimes make the market for solutions confusing.

"Vendor and solution characteristics vary significantly," says Cubillas Ding, Celent analyst and author of the report. "Given the substantial investments required of these projects, there is a stronger drive for financial institutions, especially for those in non-mandatory jurisdictions outside Europe, to better align risk management ambitions, application functionalities, technology architecture requirements, and vendor capability in various jurisdictions and business lines," he adds.

"With the vendor solutions available today, financial institutions have a range of options from selecting best-in-class components to complement existing functionality, as well as to form closer alliances with their vendors for Basel II compliance development and management," adds Lauren Bender, Celent analyst and co-author of this report.

Following the Celent report, Risk Management and the Basel II Game: Market Updates at Halftime, this new report focuses on the technology angle of Basel II solutions. It is intended to be a preliminary guide for institutions planning initiatives and evaluating vendors to prepare for the new Basel regime. The vendors analysed in detail include: Algorithmics, Fermat, i-flex Reveleus, Misys Almonde, SAP, SAS, and SunGard.

The 68-page report contains 27 figures and 14 tables.

A table of contents is available online.

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