UK risk management vendor Methodware has taken over support and development of the Orcas and fORM operational risk software solutions following the appointment of a receiver for Amelia Financial Services Ltd.
Amelia went into receivership in December, and Methodware stepped in to purchase the intellectual property rights to the Orcas and fORM products, which are currently installed at some 35 financial services client sites. Amelia was a strategic alliance partner of Methodware and Orcas & fORM were built using Methodware’s Pathfinder object orientated engine.
Martin Price, formerly head of business development at Amelia, has joined Methodware in an equivalent position for its financial services products. He is joined by other key Amelia support and development staff.
Price says Methodware is about to release a more comprehensive and flexible application, Enterprise Risk Assessor (ERA), to the market. ERA incorporates standalone, client server and Web-enabled solutions to meet the needs of all sizes of client organisations says Price.
Ten-year old Methodware currently supports over 800 clients in more than 60 countries.