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Algorithmics continues to be recognized as a leader in operational risk management(M2 PressWIRE Via Acquire Media NewsEdge) Toronto, London - Algorithmics, the leading provider of enterprise risk management solutions, today announced that it has been recognized by three research organizations, Chartis, Celent and Gartner. The Chartis report on 'Operational Risk Management Systems 2009' placed Algorithmics in the top quartile. Celent, in its 2009 report, 'Enterprise Operational Risk Management, Compliance and Governance Solutions: Towards a Convergence End Game', noted Algorithmics as one of three vendors leading the field. Gartner, Inc, positioned Algorithmics in the Leaders Quadrant of its 2009 report, 'Magic Quadrant for Operational Risk Management Software for Financial Services'. The Gartner Magic Quadrant positions vendors within a particular quadrant based on completeness of vision and their ability to execute on that vision. John Winter, Senior Vice President, Operational Risk Implementation, Algorithmics, commented: "We are delighted that Chartis and Celent have recognized Algorithmics as a leading operational risk management systems vendor and that Gartner has positioned Algorithmics in the leaders' quadrant of its report.At a time when international regulators are acknowledging the importance of operational risk within holistic risk management we have continued to innovate to provide our clients with a complete operational risk management solution with Algo OpVar." According to the Chartis report, a successful ORM vendor such as Algorithmics must offer a flexible technology structure, on-going innovation, scalable sales and marketing strategy, domain expertise and the ability to offer a "one-stop shop" for operational risk, credit risk and market risk solutions as part of an integrated proposition. Cubillas Ding, Research Director and author of the Celent report, commented: "In technology selection exercises, financial firms are faced with a plethora of vendor solutions that emphasize different areas of focus - for instance, capital modeling vs. regulatory reporting focus; configurable, business unit specific functionality, as well as requirements to address non-risk users through audit and compliance capabilities. In recent solution assessments, we have observed firms also lean towards a bias on implementation and support capabilities. These factors constitute potentially strong points of divergence in strengths and weaknesses across the vendor landscape. "Algorithmics, on balance, has demonstrated broad end-to-end functional capabilities, with operational risk capital modeling and data/content provision as differentiators", he added. As part of this research, Celent analyzed 12 vendors and their governance, operational risk, and compliance (GORC) solutions using its ABCD analysis framework to present a comparative view of the vendor marketplace that visually represents four elements: Advanced technology, Breadth of functionality, Customer base, and Depth of client services. According to Gartner, the Leaders quadrant "tends to be occupied by vendors with software applications that are addressing qualitative as well as quantitative aspects of risk management of ORM. These vendors have achieved a high level of market acceptance and enable a consistent view of operational risk across the organization as compared to separately designed and implemented risk calculation engines or audit, control and compliance reporting tools. Such vendors approach operational risk more comprehensively and holistically across the enterprise and link operational risk to CPM. They have robust organizational structures and professional services resources." For more information about Algo OpVar, please see: www.algorithmics.com/EN/services/22-prodserv.cfm 1. Gartner Research. Magic Quadrant for Operational Risk Management Software for Financial Services, Douglas McKibben, David Furlonger, August 28, 2009. Notes to Editors About the Magic Quadrant The Magic Quadrant is copyrighted August 2009 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC]. Chartis Research is the leading provider of research and analysis on the global market for risk technology. Our goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. We help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. For details on obtaining the complete report please see www.chartis-research.com Algorithmicsis the world's leading provider of risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group. www.algorithmics.com Algo OpVar is a fully integrated, pre-configured software solution for identifying, managing, measuring, and mitigating operational risk, which helps institutions successfully meet their regulatory, governance, and compliance goals. Designed to capture a virtually unlimited number of operational risk and compliance factors, Algo OpVar Standard Edition provides a transparent system that helps business units and risk officers enhance operational risk management. Individual users can analyze, monitor, and report any of these factors, individually or in context of their associated relationships. The software integrates proven methodologies through a flexible, user-friendly interface. As an 'out-of-the-box' offering, Algo OpVar Standard Edition enables firms to bypass lengthy customization phases and quickly provide management with a comprehensive, enterprise-wide operational risk framework. Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings' global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London. The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions. The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com 2009 Algorithmics Software LLC. All rights reserved. ALGO, ALGORITHMICS, Ai & design, ALGORITHMICS & Ai & design, KNOW YOUR RISK, MARK-TO-FUTURE, RISKWATCH, ALGO ALM, ALGO COLLATERAL, ALGO CREDIT ADMINISTRATOR, ALGO CREDIT DATA SERVICES, ALGO CREDIT ECONOMIC CAPITAL, ALGO CREDIT EXPOSURE, ALGO CREDIT LIMITS, ALGO CREDIT REGULATORY CAPITAL, ALGO CREDITVANTAGE, ALGO ETREASURY CREDIT, ALGO FIRST, FIRST 500, ALGO MARKET ANALYTICS, ALGO OPDATA, ALGO OPVAR, ALGO RECONCILIATION, ALGO RISK, ALGO RISK SERVICE, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC. ((Comments on this story may be sent to [email protected])) (c) 2009 M2 COMMUNICATIONS |