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Prometeia succeeds in both BS Risk Management and Capital Optimization category awards in the 2022 RiskTech100

Prometeia succeeds in both Balance Sheet Risk Management and Capital Optimization category awards in the 2022 RiskTech100
November 2021Prometeia-RiskTech100-2022

Prometeia won the category leader awards for Balance Sheet Risk Management and Capital Optimization solutions in the 2022 edition of Chartis Research’s RiskTech100®, the most prestigious and comprehensive survey of international vendors active in the Risk Management and Regulatory Compliance space.

In addition to winning the Balance Sheet Risk Management award for the second year, Prometeia is now classified in the top 25 group of Global Risk Technology providers. Prometeia registered improvements in five dimensions (Functionality, Core Technology, Strategy, Market Presence and Innovation), while continuing to receive its highest score in Customer Satisfaction.

“Prometeia’s solid growth and product enhancements are reflected in its ongoing strength in the rankings,” said Phil Mackenzie, Research Principal at Chartis. “By broadening its analytics and forming careful partnerships it has been able to expand into new markets.”

Prometeia’s Balance Sheet Management suite now combines a powerful and comprehensive “packaged” solution (ERMAS) with an open modeling and analytical environment (ERMAS Lab) that enables clients to develop their own models and simulation frameworks by leveraging Prometeia’s open-sourced functionalities and libraries, developed with different languages (Python, R, etc.). This combination meets two complementary but highly interrelated business needs: industrialize analytical processes that are highly data-intensive and, at the same time, provide a dedicated sandbox where models and algorithms can be developed, validated and connected with wider ecosystems.

Andrea Partesotti, Head of Enterprise Risk Management area at Prometeia, already looks ahead: “By combining ERMAS with ERMAS Lab we aim to increase the number of use-cases covered by our integrated Balance Sheet Management suite. Improving the quality of ICAAP and ILAAP exercises is still a priority, but also Regulatory Stress Testing and Recovery Planning are becoming hot topics in the CRO and CFO agendas. A particular focus will then be dedicated to Climate Risks: we have developed a library of proprietary models able to project the banks’ P&Ls and incorporating the impacts according to the different climate scenarios. We are already supporting many ‘significant’ European banks in the preparation of their next regulatory stress test exercise, just focused on Climate Risks.”

Prometeia is a global firm of quantitative experts and software engineers, dedicated to applying financial modeling, economic research and data science to solve complex business and regulatory challenges. Established in 1974 as an independent institute for economic research, for half a century Prometeia has been developing innovative software solutions, studies, and reports for banking and insurance groups, institutional investors and public organizations. The distinctive mix of competencies has made Prometeia a leading European company in Risk, Asset and Wealth Management solutions. Our expertise is proved by our award-winning solutions, our double-digit growth in turnover and staff, over 300 references in 20+ countries. The Prometeia suite offers a powerful Balance Sheet Management platform, covering Risk and Regulatory Compliance needs, fully integrated with a proprietary modeling environment, designed to accelerate the development of internal models and advanced analytics. To know more: and [email protected].

Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and WatersTechnology. Chartis’ goal is to support enterprises as they drive business performance through improved 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