'Fat finger syndrome' tackled

NEW YORK – Risk Integrated, a New York-based consulting firm focusing on risk measurement for specialised finance, has released the Enterprise Spreadsheet Platform (ESP), a solution for management of spreadsheet risk in banks.

Risk Integrated CEO Chris Marrison says the ESP solution is a response to client demands for a system to manage spreadsheet risk in complex financial calculations without having to replace core spreadsheets.

The inherent risk with any spreadsheet based system is that individual users can cause material losses through personal errors. Banks use numerous spreadsheets in their various business operations; and in many cases the spreadsheet risks such as the "fat finger syndrome" and "cut-and-paste"

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