New risk software aims to provide proactive risk management and decrease inefficiencies
LONDON – Risk software firm Misys has launched its new proactive risk solution, Eagleye 3.5, to help firms better navigate the financial turmoil. Misys says the product enables firms to conduct pre-deal checks and ‘what if’ analyses.
Misys estimates much of the 15–20% of operating budgets allocated to monitoring and controls is wasted. The firm is targeting global banks, hedge funds and financial institutions aiming to prevent losses, enhance operational efficiency and prevent breaches in risk policy.
“With new tough regulations imminent, the question is: How will financial institutions respond to the monitoring and control challenge?” says Chris Leong, operations director for Misys Eagleye. “Without question, transparency and better traceability, reduced costs in monitoring and controls, and increased agility when it comes to meeting regulatory demands will all be key. Essentially this solution is all about reducing latency and getting the right information to the right person at the right time.”
Misys says the pre-deal checks and ‘what if’ analyses form part of the monitoring system, which can be called by front-office applications. The latest edition aims to build on existing tools to define, evaluate, monitor, alert, report and manage exceptions, and improve operational efficiencies to reduce costs.
The system also claims to mitigate operational risks inherent with running multiple systems and to reduce reliance on manual processes that still use Excel spreadsheets by monitoring proactively across the business on a single platform.
More on Risk Management
This is a special issue for The Journal of Operational Risk as we celebrate our tenth anniversary. In this milestone event for our young journal I think that it would be appropriate at this time to provide...
Journal of Operational Risk, 10(1); 45-76
ABSTRACT New goodness-of-fit measures which are significant improvements on existing measures are described. They use the intuitive geometrical concept of the area enclosed by the curve of a fitted distribution...
Sponsored feature: Clearstream
Sign up for Risk.net email alerts
Oxford professor David Vines argues that the carrot is as important as the stick
Sponsored webinar: IBM
Watch highlights of this year's London conference
Operational risk and the challenges of defining and dealing with conduct risk
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.