Best Financial Risk Management Software
Financial risk management software identifies, measures, and models risk in financial decisions, and often enables risk mitigation within those decisions as well. These tools enable lenders to meet regulatory requirements via robust reporting and improve the business’s credit risk models. These tools are designed to handle a wide range of financial risk types within balance sheets, including market risk, credit risk, and risk associated with specific “what if” deal scenarios. In assessing loan risk, it's...
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D&B Finance Analytics is a global credit-to-cash solution that provides Dun & Bradstreet data, analytics, and technology to help improve cash flow, increase operational efficiency, and mitigate risk. This AI-driven solution comprises two platforms – D&B Credit Intelligence…
Cube is a financial planning & analysis (FP&A) platform that aims to enable finance teams to be more strategic and positively contribute to company growth activities by spending less time on manual, repetitive task, from Cube Planning headquartered in New York.
TIS helps CFOs, Treasurers, and Finance teams transform their global cash flow, liquidity, and payment functions. Since 2010, the cloud platform and service model have supported the office of the CFO to collaborate and attain efficiency, automation, and control. By streamlining connectivity between TIS' customers’ b…
RiskSeal is a SaaS platform for credit scoring through digital footprint analysis. The solution provides 300+ data points by analyzing phone numbers, email information, and IP addresses.
Core functionality
- AI-powered credit and trust scores
- Data Enrichment
- Detailed custome…
A tool that helps the user get to know company credit scores and recommended credit limits before making a decision. It also helps to understand B2B partners’ and prospects’ company payment behaviour, perform due diligence ch…
LivePlan is business plan software for entrepreneurs. Features include the pitch creation, sample plans, financial assessments, and performance dashboards.
Fraudio is a cloud-based, SaaS solution designed to fight complex payment fraud and financial crime by using artificial intelligence, machine learning and multi-dataset network effects.
Latest Generation in Fraud Detection & Prevention technology
So far there are three generation…
Credolab is a B2B SaaS Fintech that develops bank-grade digital scorecards built on mobile devices and online web behavioural metadata. The company's pay-per-use solutions are available to banks and neobanks, digital lenders and BNPL players, insurance companies, and any industry…
HiddenLevers is a risk technology platform providing applications for wealth management. Boasting over $500 billion in assets on the platform, HiddenLevers offers client-facing and home office solutions aimed at executives, financial advisors, asset managers, and portfolio managers.…
Trovata helps businesses automate the work it takes to gather and normalize all of its financial data. Trovata lets finance and treasury teams access, build, manage, and control their own trove of financial data – from banks, business & accounting systems, and external markets. For…
Bectran, is a SaaS platform for B2B Finance Departments, akin to CRM for Sales, used to streamline credit processing, while reducing credit defaults and collection costs. Bectran can be used to improve the efficiency Accounts Receivable and Collections management.
Countercyclical is an investment research and valuation platform built for…
As a global risk and compliance solutions provider, DFIN offers regulatory, reporting, legal, filing and distribution solutions through one integrated financial compliance management software platform, providing the financial industry with experience and expertise.
Videos for Financial Risk Management Software
Learn More About Financial Risk Management Software
What is Financial Risk Management Software?
Financial risk management software identifies, measures, and models risk in financial decisions, and often enables risk mitigation within those decisions as well. These tools enable lenders to meet regulatory requirements via robust reporting and improve the business’s credit risk models. These tools are designed to handle a wide range of financial risk types within balance sheets, including market risk, credit risk, and risk associated with specific “what if” deal scenarios.
In assessing loan risk, it's important to have all relevant customer data to hand to assist in making a decision. Many credit risk management tools draw on public records and multiple proprietary data sources to provide an understanding of the risk, scoring, profitability potential and creditworthiness of customers and prospects.
Risk Management and Regulatory Compliance
The main benefits of financial risk management software is to maintain regulatory compliance and mitigate financial risk in decision-making. Financial risk management software is particularly adept at the regulatory compliance aspect of financial risk due to native reporting capabilities that can automate many of the processes and reporting necessary in financial risk audits. This automation and process streamlining both saves time and reduces the chances of human error in complex, high-stakes reporting.
Financial risk management software also helps businesses be aware of and mitigate financial risk itself. Some tools focus on giving visibility into what kind of risk is associated with specific deals, market states, or or financial decisions. Others will proactively offer suggestions on how to handle or mitigate said risks, or tie the risk assessment into broader financial decision-making structures. However, the entire spectrum of tools help mitigate the damage that can come from unrealized or unplanned-for financial risk.
Financial Risk Management Software Comparison
When comparing different financial risk management software, consider these factors:
- Integrations: Consider how frictionless the integrations are with the business’s accounting, ERP, and other core financial systems. Integration demos and reviews of certain tech stacks will likely give the best insights into how robust and efficient each integration is.
- User-Friendly: How easy to use is the platform? User-friendliness is important to consider in financial systems not just for the sake of the user’s experience. Clear, easy-to-use systems help avoid costly errors, particularly in complex processes like financial modelling and risk auditing.