Manish Gupta, CEO of Corridor Platforms

New York-based risk management consulting firm Oliver Wyman has announced a strategic partnership with New York-based risk management startup Corridor Platforms. This partnership between the two risk management firms aims to provide end-to-end risk management solutions to banks and non-bank financial institutions.

Oliver Wyman Managing Partner and Head of Financial Services for the Americas, Michael Zeltkevic, said, “The Corridor leadership have taken a wealth of first-hand experience and created a unique integrated solution which enables institutions to make a step change toward the state-of-the-art analytics in risk and beyond, to truly compete in the digital banking era.

Corridor Platforms’ cloud-based risk management platform which enables end-to-end credit modelling, loan valuation will benefit Oliver Wyman in its risk management operations. As most of the transactions with respect to credit risk have been digitized a cloud solution for the same will help Oliver Wyman to manage risk management solutions efficiently.

Manish Gupta, CEO of Corridor Platforms said, “Oliver Wyman is the clear industry leader in risk analytics. Building on decades of experience at the forefront of innovative model development, they are propelling their clients toward the pragmatic adoption of advanced techniques and technology. We could not have chosen a better firm to help clients leverage Corridor Platforms solutions and create rapid and sustainable financial impact.”

The collaboration between the two risk management firms is expected to serve customers in a way where they can fully leverage their own assets and current capabilities and integrate rapidly with evolving open source technologies; while ensuring the control requirements of a regulated environment are held to the highest standards.

Established in 2018, Corridor Platform enables risk managers to connect underwriting policies/strategies to the underlying models and product valuation frameworks in a single centralized system. This enables instantaneous evaluation of the impact of changes in models, strategies and policies and allows for real-time execution into production.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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