The New Nation - Internet Edition

IT Report

Oracle and i-flex solutions have announced that they were evaluated and positioned in the Leaders quadrant of the recent Gartner report, "Magic Quadrant for Operational Risk Management Software (ORMS) for Financial Services."

The Gartner Magic Quadrant positions vendors within a particular quadrant based on completeness of vision and their ability to execute on that vision.

Oracle's Reveleus Operational Risk solution provides in-depth insight across the enterprise to effectively identify, monitor, and manage operational risk within a comprehensive Governance Risk and Compliance (GRC) framework.

"Financial institutions internationally are using Reveleus GRC solutions to help achieve quantifiable benefits, ranging from simple cost efficiencies to improved share price, that are driven by reductions in perceived risk from investors," said S Ramakrishnan, CEO for Mantas and Reveleus.

Reveleus Operational Risk provides a full-range operational risk framework across assessment, process mapping, workflow management, key risk indicators (KRIs) and loss event capture, including data management and Extract, Transform and Load (ETL) tools for quantitative operational risk and compliance management. "We believe Reveleus' placement in the Leaders quadrant underscores the value we provide in helping organizations achieve business objectives while also protecting their assets and reputations in the highly competitive financial services industry," S Ramakrishnan added. According to Gartner, "This (Leaders) quadrant tends to be occupied by vendors with software applications that are addressing qualitative as well as quantitative aspects of ORM (Operational Risk Management). Such vendors approach operational risk more comprehensively and holistically across the enterprise and link operational risk to CPM. They have robust organizational structures and professional services resources."