The top 5 financial risk management software companies in 2022

financial risk management software

The role of AI in financial risk management

Before we get to our list, let’s discuss how financial risk management has changed over the past few years. Due to the advancement of artificial intelligence (AI) and machine learning (ML), financial risk management tools have gotten faster, smarter, and easier to use through automation.

Top 5 financial risk management software companies

There’s no one-size-fits-all solution to financial risk management, so picking the right tools will depend on the unique goals and requirements of your organization. To help you get started, here are the top five financial risk management software companies:

FactSet

The FactSet platform allows financial professionals — specifically investment advisors — to effortlessly import, manage, and report on a wide range of data. As an end-to-end solution, this tool offers a centralized hub for advanced portfolio analytics, quantitative research, and performance measurement — in addition to standard risk analytics. The platform is fast, secure, and easy to use. Plus, it can be integrated seamlessly with most CRM solutions.

D&B Credit

D&B Credit is a cloud-based platform designed to help facilitate diverse finance strategies and approaches. Its most well-known features include intuitive credit reporting, portfolio segmentation, and alert tracking. Perhaps the best aspect of this platform is the fact that it’s highly flexible and customizable. It supports multiple languages and currencies, and also provides various tagging options and reporting views.

MetricStream

A leader in the risk management space, MetricStream software leverages AI and ML to provide users with speed and efficiency when governing risk. The system can fit into almost any risk management framework, and runs on AWS — ensuring optimal scalability and security. And with the Smart Policy Search feature, users can quickly pull up relevant policy information for specific accounts, without having to go find it themselves by manually scanning pages and pages of documents.

SmartRisk

The SmartRisk platform is designed for investment advisors looking to update and optimize their clients’ financial portfolios. With intuitive reporting and modeling capabilities, users can effectively communicate risks, opportunities, and expectations, thereby avoiding reckless — or overly conservative — investment decisions. The platform has gained a lot of popularity among investment professionals over the past few years, mainly because of its ease of use and competitive pricing.

Kyriba

Leveraged by thousands of financial institutions across the globe, Kyriba provides many customizable features, reliable security, and smooth connectivity with third-party apps — from ERP systems to investment trading platforms. The software supports many different languages and currencies. And in addition to managing financial risk for investments, it is also used for fraud detection, treasury management, and supply chain finance.

  • FinScan
  • Reval
  • Calypso
  • GTreasury

Implementing financial risk management software for your business

Identifying, integrating, and managing the right financial risk management solution for your business can be a long and complicated process. The software must connect seamlessly with the other technologies in your ecosystem, without disrupting the customer experience or complicating internal workflows. That’s where Codal comes in.

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Codal Inc.

Codal Inc.

A digital solutions partner with a data-driven approach that empowers companies at the intersection of UX design, development, & business.