Operational Risk Management Systems 2008 – Navigating through a fragmented market –
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| March, 2008 - Doc # RR08011 | Research Report |
| Number of pages - 33 | Free |
| Number of figures & tables - 10 |
Overview
This report highlights the main findings from Chartis’ annual study into Operational Risk Management Systems. It contains an overview of the marketplace and charts the main vendors on a Competitive Landscape.
The second wave of expenditure in operational risk management (ORM) systems is now fully visible. Chartis retains its 2007 forecast for the worldwide ORM market to grow to $1.55bn by 2011. This growth has been fuelled by:
1 Many US and European financial institutions continue to replace their first generation ORM systems. This is largely due to inflexible and rigid product design and the ongoing evolvement of ORM methodologies.
2 Some market segments, such as emerging regions (e.g. Middle-East, Asia-Pacific, South America), and vertical sectors (e.g. insurance, asset management) are investing in formal ORM systems for the first time.
3 Average investment in ORM projects is increasing, as more and more financial institutions are seeing ORM’s strategic business benefits and not just a tactical “tick-in the-box” initiative.
This report contains key extracts from Chartis’ “Operational Risk Management Systems 2008 – Market Analysis” report RR08012, published March 2008.
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