back Back

CubeLogic rolls out Risk-as-a-Service with Numerix and IOWArocks

By Megha Bhattacharya

December 07, 2020

  • Cubelogic
  • UK
Share

CubeLogicEnterprise risk management solutions provider CubeLogic today announced the launch of a new Risk-as-a-Service (RaaS), in collaboration with Numerix and IOWArocks. The new solution is expected to deliver advanced credit, market and compliance risk analytics.

Karl Sees, MD Financial Services CubeLogic commented, “We are delighted to announce the availability of this new and much-needed solution. Risk-as-a-Service may not be a new term, but our approach is. By combining the specialist, but highly complementary skills and experience of the CubeLogic team, together with Numerix and IOWArocks, we have been able to very quickly construct a robust solution which can flex to suit the specialist needs of our users.”

According to the companies, the newly developed service aims to meet the needs of financial services institutions and energy and commodity firms. The offering includes RiskCubed risk engine, powered by Numerix advanced valuation and risk analytics, that provides a range of valuations, greeks, cross greeks, VaR, tracking error, PFE, CVA, xVA, stresses and scenarios. It also comprises of data connectivity from IOWArocks as well as business intelligence-enabled: on-the-fly reporting, dashboards, charting, historical analysis and trends.

Steve O’Hanlon, CEO of Numerix continued, “Across financial services, one of the strongest trends we are seeing is the pressure to reduce operating costs. We believe this service further enables firms to outsource business processes to expert providers with confidence, and as a result will enable them to significantly improve risk mitigation capabilities and achieve the cost savings they desire. With three market leading solutions brought together in a single Risk-as-a-Service offering, the solution can be delivered on-premises or in the cloud and can be implemented faster and more efficiently than ever before.”

Paul Watmough, Co-founder & CEO IOWArocks concluded, “Cost reduction is most definitely high on everyone’s agenda. Particularly for consumers of market data which can typically be the second largest expenditure for most financial services firms. The IOWArocks global marketplace boasts a growing catalogue of alternative, reference and market data providers and is already enabling users to purchase only the data sets they need, on highly flexible commercial terms. I am delighted to be part of this strategic initiative which will enable firms to rationalize data consumption costs whilst delivering risk competency and regulatory efficiency.”

Previous Article

December 07, 2020

MAS announces applicants of digital bank licences in Singapore

Read More
Next Article

December 07, 2020

Google Pay ties-up with Qwikcilver to issue real-time virtual gift cards

Read More








IBSi Daily News Analysis

Complaints Fraud

May 22, 2024

Cubelogic

UK SMEs lack fraud protection, facing significant financial risks, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

SurePay teams up with FIS to deliver Verification & CoP solutions

Read More

Today

Zwipe taps Ermes srl to distribute biometric access cards in Italy

Read More

Today

CashFlo acquires Logitax to expand its Finance Automation & Compliance Suite

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023