Financial risk management software help to reduce earnings volatility, which helps to make financial statements and dividend announcements more relevant and reliable. Financial risk management software provides various solutions that give risk professionals, senior bank executives and business user’s insight into risk types across the enterprise. These solutions include risk calculation engines, scorecard and visualization tools, dashboard analytics and risk reporting tools among others. Increasing need for risk management across various industries is one of the major trends behind the growth of the financial risk management software market. Financial risk management software’s are adopted by organizations across the globe to minimize their losses incurred due the risks in their business operations and to gain a competitive edge in the market.

The global financial risk management software market, in terms of revenue, which was estimated at US$ 7.04 billion in 2017, is expected to reach US$ +13.99 billion in 2029.

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The advent of financial technologies (FinTech) has led to an increase in online banking transactions globally. These transactions are subject to threats such as cyber-attacks, payment getaway fraud incidents, making risk management an imperative for organizations. Financial risks are both external and internal. The external risks are those that can not be directly controlled by the management. Changes in global markets occur instantaneously which lead to risks with managing finances. The adoption of financial risk management softwares is gaining momentum due to such potent risks posed to the financial transaction. The spikes in regulatory norms witnessed globally, have also contributed to the growth of the financial risk management software market. The high cost development paired with complicated implementation is expected to hinder the growth of the market.

Competitive Landscape

The report provides both, qualitative and quantitative research of the financial risk management software market, as well as provides worthy insights into the rational scenario and favored development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.

The financial risk management software market participants include Experian PLC, Fiserv, Inc., IBM, KPMG, Kyriba Corp., Misys, Optial UK Ltd., Oracle, Palisade Corporation, Protecht’CreditPoint Software, Resolver Inc., Riskdata, RISKTURN Inc., SAP, TFG Systems, Xactium Limited, Zementis, and Zoot Solutions amongst others.

Financial Risk Management Software Market:

By Component

  • Software
  • Solution
  • Services

By Vertical

  • Banking and Financial Services
  • Insurance
  • Manufacturing
  • Transportation and Logistics
  • Retail and Consumer Goods
  • IT and Telecom
  • Government and Defense
  • Healthcare and Life Sciences
  • Others

By Regional Outlook

  • UK
  • Asia Pacific
  • MEA

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