CCH Sword, a leading developer and supplier of operational risk control solutions and a part of CCH, a Wolters Kluwer business, has been positioned by Gartner, Inc. in the Visionaries quadrant of the Magic Quadrant for Operational Risk Management Software for Financial Services.* The Magic Quadrant assessed 18 vendors that offer operational risk management (ORM) software applications for financial institutions.
In the report, “Magic Quadrant for Operational Risk Management Software for Financial Services,” issued on August 28, 2009, Gartner states that “end-user clients should view risk management with the same degree of mission criticality and substance as other significant enterprise platforms, core banking, ERP, payments, and so on.”
“We are delighted with our position in the 2009 Magic Quadrant,” said CCH Sword managing director Seamus O’Farrell. “CCH Sword believes that the current financial crisis has emphasized the need for financial institutions to embed a risk management mentality in their business staff throughout the enterprise, and it is gratifying that our partnership approach with customers, resellers and associated companies in achieving this is recognized by the industry. We will continue with this strategy in order to deliver to our customers comprehensive and integrated products and services that help them control and manage risk throughout their organizations.”
Other key milestones for CCH Sword in 2009 include:
• Selection of CCH Sword as the platform for ORIC (the Operational Risk Consortium), the operational loss database managed by the Association of British Insurers.
• Integration with the leading audit management solution, CCH TeamMate.
• Launch of CCH Sword Essential, a pre-configured risk management solution for small and mid-tier banks, asset managers and insurers.
• The upcoming October launch of Wiz® Compass, a risk management solution for community, regional and national banks in the United States; Wiz Compass is powered by Sword with pre-configured compliance content that includes lending, deposit, privacy and anti-money laundering/Bank Secrecy Act regulations.
