New study underlines troubled state of op risk tech industry

The overall environment is not set to improve substantially until early 2004.

"It is a very, very tough market to sell into," says Mike Finlay, director of the London-based Raging Torrents. "Banks do not yet have universal sign-off from the top of the tree, saying that the firm has to have a solution in place, so you are fighting the whole time for the pennies at the bottom of the barrel."

Although the report lists some 30 op risk solution vendors, it also notes that most solutions are less than

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