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Prometeia Category Leader in FinTech QuadrantTM for IFRS 9 Solutions

Chartis Research, the leading provider of research and analysis in the global market for risk technology, has positioned Prometeia as a Category Leader in their latest FinTech QuadrantTM for IFRS 9 Solutions in their 2017 Market Update.

The Chartis FinTech QuadrantTM is a proprietary methodology developed by Chartis specifically for the financial technology marketplace. It takes into account two main dimensions: the product and technology capabilities of each vendor (completeness of offering) and their commercial strength (market potential).

In the overall assessment of SW solutions to support IFRS 9, Prometeia is ranked top three in terms of completeness of offering among all RiskTech vendors covered in the report. The criteria for this assessment include General Ledger, Classification of Financial Instruments, ECL Impairment, Hedge Accounting, Balance Sheet Management and Optimization, Embedded Domain Knowledge.

Andrea Partesotti, Head of Enterprise Risk Management Area at Prometeia: “Prometeia offers a unique value proposition to banks willing to approach IFRS 9 Compliance. No other provider is able to supply a fully integrated platform that meets the best industry standards with highly specialized consulting on Credit Risk modeling. We support our clients over the entire IFRS9 project, from the calibration of PD and LGD parameters to the definition of satellite models, from the input data collection to the integration with accounting systems.”

Hugh Stewart, Research Director at Chartis: "The current marketplace requirements can no longer be satisfied by pure software products or pure consulting solutions. New regulations, new technology and 'time-to-compliance' are driving the need for integrated risk management offerings. Prometeia can leverage on a strong mix of software, consulting and thought leadership in regulatory & accounting compliance to meet these market needs.”
Prometeia, the global leader in Risk Management consulting and software solutions, develops ERMAS, a fully integrated platform supporting Balance Sheet Risk Management, Regulatory & IFRS Compliance, Performance Management & Control, Credit Risk Analysis and Credit Decision Management.

ERMAS enhances the active management of enterprise risks and maximizes value generation, while meeting the requirements set by regulatory standards and by the specific business model of the bank. ERMAS is used by over 200 clients in more than 20 different countries.

Chartis is the leading provider of research and analysis on the global market for risk technology and is part of the Insight division of InfoPro Digital, which includes market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. RiskTech Quadrant®, RiskTech100® and Fintech QuadrantTM are registered trademarks of Chartis Research.