Dublin firm beats big guns at game of risk

7 Dec 2005

A Dublin-based financial services software firm has beaten industry giants such as Reuters, SunGard, Bloomberg, SAS and JP Morgan in the Risk Technology Rankings 2005, a survey of 448 user institutions.

Ci3 emerged in first position across a number of categories in the Risk Technology Rankings 2005, a survey undertaken by international risk industry publication Risk magazine.

The company was ranked in first position for Operational Risk Assessment, Operational Risk Key Risk Indicators and Operational Risk Internal Loss Data, attracting 25pc, 18.5pc and 14.3pc of the votes in the respective categories.

The result positions Ci3 at number five overall in the ranking of technology vendors. The company’s Sword technology has over 2,000 users in financial services firms across 23 countries. These include players such as Schroders, Anglo Irish Bank, Barclays Global Investors, Pearl Assurance and Hendersons.

The technology has also won reader and editor awards from financial publications such as The Banker and Operational Risk.

“The Risk Technology Ranking is the distilled judgement of our end-user industry and it places Sword clearly in the top five and straight into consideration as a short-listed technology throughout the global financial services industry,” explained Seamus O’Farrell, Ci3’s managing director.

“With the advent of Markets in Financial Instruments Directive and Sarbanes-Oxley, issues concerning operational risk measurement and management, compliance and corporate governance are at the top of every international financial institution’s agenda, and it is Sword’s capability as a solution for these issues which was rated so highly by technology professionals in the global banking and financial sectors,” O’Farrell concluded.

By John Kennedy