Algorithmics Recognized for Enterprise-wide Risk Management Across All Risk Types in 2008 Risk Magazine Technology Rankings

10 December 2008

Algorithmics was voted the number one risk management vendor again, receiving more first places in the risk categories than any other vendor in the latest Risk Magazine Technology Rankings. In addition, for every one of the six enterprise risk categories – market, credit, integrated market and credit, Basel II and operational risk – Algorithmics was voted in first or second place. At a time when enterprise risk management is being heralded as one of the solutions to the current crisis, this is important recognition of a firm that has always taken an enterprise approach to risk management.

Risk Magazine's annual rankings are based on a poll of end users of risk management software products, who vote for the technology vendors they believe provide the best risk management solutions.

Clive Davidson, contributing editor at Risk, said: “The past 18 months has proved to be the ultimate stress test for many aspects of financial services, including the technology on which many of the deals are done and which performs the calculation of exposures and losses ... In these testing circumstances ... Algorithmics has maintained its lead in enterprise risk management.”

Michael Zerbs, President and COO of Algorithmics, said: “I am very pleased that our clients have shown their satisfaction with our solutions by voting us top vendor in all of the risk categories assessed, and within the top two in all the enterprise risk categories covered.

“The current crisis reinforces several principles that have always been at the heart of our innovation strategy and product direction – namely that mechanical, silo-based risk management doesn’t work. In contrast, the ability to take a comprehensive and holistic enterprise view of market, credit, liquidity and operational risk and to understand the linkages and dependencies among those risk categories, has become an essential underpinning of effective risk management. We are delighted to have been recognized for our enterprise risk management expertise in these rankings.

“We will continue our commitment to innovation and R&D, something for which we, together with our clients, have won several prestigious awards this year. Our innovative solutions are delivered in strong and ongoing partnerships with our clients that often go far beyond the initial implementation to ensure their risk management solutions provide tangible business benefits and evolve with their business needs and challenges.”

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