Financial Services Operational Risk Management Solution Market Recent Industry Trends and Projected Industry Growth, 2017 – 2027

10/mag/2017 09:48:56 Ankush Nikam Contatta l'autore

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Operational risk management has Always Been a vital function for financial services. Operational risk management abbreviated as ORM, is a cyclic process Which includes factors such as risk assessment, risk decision making, and implementation of risk controls to Recognize, avoid and mitigate risk. Operational Risk Management in Financial Services is evolving as a dynamic business promoter, focusing on operational risk Arising from internal business model, enterprise workforce, customer preferences, regulatory compliance Both at regional and global level and fraud risk. Here comes the ORM solution in picture Which includes promoting a risk-aware culture in the enterprise, identifying and reporting operational risk information, reduce unexpected losses by regulatory compliance at all levels, holistic understanding of risk and its possible losses and finally Establishing a consolidated view of risks, controls and workflow processes. Financial Services Operational Risk Management Solutions is all about creating a link between operational risk and risk-related solutions That reinforce technology with deep expertise of financial risk solutions.

Financial Services Operational Risk Management Solution Market: Drivers and Restraints

The biggest driver for financial services operational risk management solution market Is that it Confirms That enterprises are optimally insured at all levels of operations. Continuous INCREASE in the scale and complexity of financial institutions along with fast paced financial transactions is another driver of operational risk management solutions for financial services. Risk management solution Also helps in assessing the position of the financial institution in the market with a single and wide view of business processes such as cash flow analysis while lending loans. Growth in the number of cyber-attacks on critical data and business models of the financial enterprises is Also a driving factor for this market.

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Despite the benefits of operational risk management solutions, financial institutions struggle in identifying the key parameters for risk identification and Also suffer two to fluctuating regulatory policies. Hence they are inefficient in extracting full potential of operational risk management solutions. This causes hindrance in the growth of market. Dramatic change in customer expectations, demands the need of innovation in operational risk management solutions. If this is lacking it results in the lack of vision in the overall strategy of the organization Which is Also one restraint in this market.

Financial Services Operational Risk Management Solution Market: Segmentation

Financial services operational risk management solution market  can be segmented on the basis of end user, type and region. End user category includes banking, insurance, stock market, wealth management, mutual funds and tax consultants. On the basis of type Further it can be segmented as fraud risk, human resource risk, model risk and legal risk. Region wise, Financial Services Operational Risk Management Solution Market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe, and Middle East & Africa.

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Financial Services Operational Risk Management Solution Market: Regional Overview

North America and European market is on top and is expected to dominate the market in the future to presence of two big financial enterprises In These regions. Identified as Asia Pacific is the fastest growing market to two growing economy, fast peace of transactions, and huge customer base. Latin America and Middle East is Also catching up with this market at a considerable peace.

Financial Services Operational Risk Management Solution Market: Key Players

The key vendors offering operational risk management solutions for financial services include Oracle, SAP SE, SAS Institute Inc., MetricStream Inc., Thomson Reuters, eFront, Enablon, Fair Isaac Corporation, Wolters Kluwer Financial Services, ClusterSeven, Chase Cooper Limited, and BWise .

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