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Optial and Fernbach form partnership

02 March 2010  |  2493 views  |  0 Source: Optial

Optial, the operational risk specialist, announced today a strategic partnership with Fernbach, a global provider of software for the finance industry.

The partnership builds on both organisations' domain and technical expertise and will provide clients with a best in class qualitative and quantitative operational risk framework by embedding FERNBACH's FlexFinance® Analytix platform into Optial's operational risk management system.

FlexFinance Analytix is a high performance modeling tool that scales to a wide range of applications and has been designed to empower business users with the ability to model a wide range of solutions.

The integration of Analytix with Optial will expand the capabilities of Optial's proven and powerful operational risk management system to deliver wider quantitative capabilities. This will provide sophisticated modeling and calculation capabilities, such as capital calculation, Monte Carlo simulation, scenario analysis and stress testing to the Optial product suite.

Currently Optial provides a comprehensive workflow-driven solution for Incident Management/loss data capture, risk registers, key risk indicators, risk and control self assessments, control effectiveness monitoring, internal policy and regulation distribution, audit management and business continuity management.

Chris O'Brien, CEO of Optial, said: "The combined skills, experience and technology of Optial and FERNBACH makes this a near perfect fit; partnering with FERNBACH we can provide a comprehensive solution to our client base which requires a modern and original operational risk management approach. Together Optial and FERNBACH represent a powerful, flexible integrated enterprise-wide solution for measuring, mitigating, managing and reporting on all risk and compliance aspects."

Mike Hamm, Managing Director of FERNBACH-Software, said: "Optial and FERNBACH perfectly complement each others' technology and skill sets. We are excited about this partnership and pleased to offer our clients a unique operational risk suite blending the best qualitative and quantitative capabilities in ththe market place."

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