The partnership builds on both organisationsâ domain and technical expertise and will provide clients with a best in class qualitative and quantitative operational risk framework by embedding FERNBACHâs FlexFinanceÂ® Analytix platform into Optialâs operational risk management system.
FlexFinanceÂ® Analytix is a high performance modeling tool that scales to a wide range of applications and has been designed to empower business users with the ability to model a wide range of solutions.
The integration of Analytix with Optial will expand the capabilities of Optialâs proven and powerful operational risk management system to deliver wider quantitative capabilities. This will provide sophisticated modeling and calculation capabilities, such as capital calculation, Monte Carlo simulation, scenario analysis and stress testing to the Optial product suite.
Currently Optial provides a comprehensive workflow-driven solution for Incident Management/loss data capture, risk registers, key risk indicators, risk and control self assessments, control effectiveness monitoring, internal policy and regulation distribution, audit management and business continuity management.
Chris OâBrien, CEO of Optial, said: âThe combined skills, experience and technology of Optial and FERNBACH makes this a near perfect fit; partnering with FERNBACH we can provide a comprehensive solution to our client base which requires a modern and original operational risk management approach. Together Optial and FERNBACH represent a powerful, flexible integrated enterprise-wide solution for measuring, mitigating, managing and reporting on all risk and compliance aspects.â
Mike Hamm, Managing Director of FERNBACH-Software, said: âOptial and FERNBACH perfectly complement each othersâ technology and skill sets. We are excited about this partnership and pleased to offer our clients a unique operational risk suite blending the best qualitative and quantitative capabilities in the market place.â