- Gartnerâs âMagic Quadrantâ for Basle II Applications
SWORD, Ci3âs flagship operational risk management solution has recorded top recognition in two of the risk industryâs leading surveys of technology for 2006:
#1 status in the âLoss Recordingâ category of RISK Magazineâs prestigious annual Risk Technology Rankings, and
Gartnerâs latest âMagic Quadrantâ for Basel II Software Applications.
2006 is the third year in succession that SWORD has achieved #1 status in the âLoss Recordingâ category of the RISK Magazine Technology Rankings. The RISK Magazine Technology Ranking is regarded as one of the most prestigious within the operational risk sector and is based on an annual survey of qualified end users.
SWORD has also achieved critical recognition on the prestigious Gartnerâs âMagic Quadrantâ for Basel II Software Applications for 2006. Gartnerâs Magic Quadrant is widely regarded as one of the most important software industry benchmarks by both vendors and IT buyers alike, and as a critical guide for purchasing decisions.
According to Gartners, âdetailed domain expertise and deep functionality are critical components of a vendor's ability to excel in the Basel II Capital Accord risk management application software marketâ. Gartnerâs Magic Quadrant surveyed all vendors in the risk management sector, including just 14 firms worldwide in the final selection.
âThe 3-in-a-row success of SWORD in the âLoss Recordingâ category is particularly significant because from January 2007, all banks and financial institutions within the EU will be required to comply with Basle II âLoss Recordingâ regulation, and SWORD has been adjudged the leading technology in this area by our industry peers,â says Richard Pike, Director of SWORD Product at Ci3.
âInclusion in Gartners Magic Quadrant is also very significant, as it is the strongest possible industry recognition of SWORDâs competence in the operational risk niche. But just as important is the status of the Quadrant itself: Gartners âMagic Quadrant is widely recognised around the world as an industry benchmark, and is one of the most widely consulted information tools by IT purchasers. This recognition is hugely important for SWORD and Ci3â, says Richard Pike.