RiskMetrics sees demand growing for ASP platforms

The adoption of application service provider (ASP)-based financial risk management systems is increasing rapidly, according to RiskMetrics.

The US-based provider of financial analytics and wealth management services said it had seen growing demand for such a service and has now signed up 100 ASP clients.

Since RiskMetrics' platform was launched in April 2002, the company has seen a rapid pick-up in the Americas, where 60%of the company’s ASP clients are based.

RiskMetrics co-head of managed services, Ken Parker, said the ASP platform’s success lies in its ability to combine robust analytics with a lower barrier to entry and easy integration with existing analytics tools.

Head of application management at RiskMetrics, Rob Fraser, said ASP services now contribute more than 50% of the group’s revenues. “The ASP model is therefore a good model for us in terms of income generation for the company,” said Fraser.

RiskMetrics Group's analytics, data and services enable users to measure and manage risk, and to communicate that risk to managers, clients, investors, shareholders and regulators. Formerly a division of JP Morgan, RiskMetrics Group became an independent company in 1998.

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