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Prometeia wins Balance Sheet Risk Management category award in the 2021 RiskTech100

Prometeia won the category leader award for Balance Sheet Risk Management solutions in the 2021 edition of Chartis Research’s RiskTech100®, the most prestigious and comprehensive survey of international vendors active in the Risk Management and Regulatory Compliance space.
Prometeia this year also entered the top 30 in the global rankings, moving up by seven positions to 27th and becoming the fifth largest RiskTech provider in the European Union. Prometeia’s overall score increased to 61.42% from 59.9% in the last edition, registering an improvement in all dimensions (Functionality, Core Technology, Strategy, Customer Satisfaction, Market Presence and Innovation).

Prometeia’s Balance Sheet Management solution combines a comprehensive and powerful modular solution (ERMAS™) with an open modeling environment (Prometeia Modeling Platform), designed to accelerate the development of advanced analytics and customized applications sitting on top of traditional ALM modules.

In particular, the open modeling environment has been designed to offer a flexible analytical framework where behavioral models, stochastic simulations and quantitative methods can be assembled, tested and deployed, leveraging both Prometeia and open-source libraries developed with different languages (Python, R, SAS, etc.). 

Andrea Partesotti, Head of Enterprise Risk Management Area at Prometeia, has commented: In the Risk industry we see many providers that offer open frameworks that enable the user to develop their own analytics: these solutions are extremely flexible, but lack the business content necessary to support advanced Balance Sheet Management processes. At the same time, traditional ALM vendors propose modular solutions that are competitive from a business perspective, but they lack the flexibility that the new generation of AI-based modeling platforms can offer. Prometeia is filling this gap in the market, offering a revolutionary approach to Risk Management needs.”

“As key business functions such as balance sheet management take on renewed importance,” said Sid Dash, Research Director at Chartis, “Prometeia has improved its position in ALM and across the banking book, deepening its analytics and offering real flexibility in its solution.”

This recognition of Prometeia’s expertise shortly follows the recent XCelent Award in the category of Advanced Technology & Analytics for Balance Sheet Management and ALM software solutions by Celent.