New York, NY – November 30, 2016
Numerix, the leader in risk technology today announces a new strategic relationship with Vector Risk solidifying its technology leadership position amongst FinTech elite.
As the only platform to transcend the front office and middle office with a single database, Numerix Oneview provides integrated analytics for trading, risk, finance and operations. Though the partnership, Vector Risk will integrate core capabilities of it high performance risk technology into the Oneview platform – including elements of FRTB capital assessment, cloud architecture, workflow and reporting.
With the introduction of Numerix Oneview, the next generation enterprise risk platform, Numerix has led a steady evolution towards cross-silo and cross-functional risk infrastructures. Vector Risk’s cutting-edge approach is rooted in high performance computing vectorization guaranteeing maximum performance. SaaS deployment enables quick time-to-market to integrate into existing IT infrastructure and can dynamically scale via its cloud architecture. This partnership will help to reduce implementation timeframes for our users while further enhancing performance, scale and depth of Numerix Oneview integrated analytics.
Aligning with Bank Transformation & Digital Culture
“Return on equity is not what it once was, and the regulatory crackdown on derivatives while serving as a catalyst for transformation of existing systems is also a barrier to doing business. While existing systems are struggling to keep up –there’s been a transformation happening for a while where firms are embracing a digital culture ingrained in automation, machine speed, and reliable and accurate process optimization,” said Steve O’Hanlon, CEO of Numerix. “Vector Risk is a trail blazing company committed to advancing the digital business process, and as such is the perfect partner to compliment the Oneview vision.”
“Vector Risk solutions run as a true multi-tenancy software combining high performance with the time and cost savings of SaaS technology,” said Justin Taylor at Vector Risk. “We’re recognized across the industry for providing the ultra-fast performance institutions need in order to make effective business decisions – our approach is extremely efficient and together with Numerix we’re excited to bring a new level of technology innovative to a broader user base.”
Steve O’Hanlon concludes: “Legacy solutions were built for a very different business environment and are having significant challenges adapting to the new world. Powerful enabling technology solutions can offer a unique differentiator, open new market opportunities and revenue streams. Vector Risk offers a revolutionary framework with a scalable cloud architecture at its core, and is a proven enterprise risk solution inside banks since 2001. We are proud to call them our new partner.”
Numerix is the award winning, leading independent analytics institution providing cross-asset solutions for structuring, pre-trade price discovery, trade capture, valuation and portfolio management of derivatives and structured products. Since its inception in 1996, over 700 clients and 90 partners across more than 26 countries have come to rely on Numerix analytics for speed and accuracy in valuing and managing the most sophisticated financial instruments. With offices in New York, Boston, Chicago, Los Angeles, Mexico City, Miami, Vancouver, London, Paris, Milan, Helsinki, Frankfurt, Dubai, Beijing, Mumbai, Hong Kong, Seoul, Singapore, Sydney, Tokyo and Taipei, Numerix brings together unparalleled expertise across all asset classes and engineering disciplines. For more information please visit www.numerix.com.
About Vector Risk
Vector Risk Inc. (www.vectorrisk.com) provide high performance credit and market risk solutions used by banks, financial services organisations, hedge funds, corporates and auditors to manage traded derivatives. Developed for and used by tier one banks as an enterprise risk engine system, the Vector Risk engine is now available as a cloud offering, affording access to sell side and buy side institutions at all levels. With integrated market data feeds from OTC market data vendors, ease of use, and performance, the Vector Risk Cloud Solution allows smaller organisations to report on and manage VaR, Expected Shortfall, Stress Testing, PFE, EPE, xVA and FRTB.
Vice President of Public Relations
P: +1 646 898 1294
M: +1 646 373 9654