FRSGlobal

FRSGlobal excels in Chartis RiskTech100 Survey

12/11/2008

FRSGlobal storms into Top 10 and named highest climber in 2008 rankings

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London (12th November 2008) : FRSGlobal, the only global provider of risk and regulatory compliance solutions with coverage for over 30 countries, today announced it has been placed in tenth position in the annual Chartis RiskTech 100 ranking of the top 100 risk technology vendors worldwide. FRSGlobal is this year's biggest mover - climbing an impressive 44 places, up from 54th place in 2007.

The Chartis RiskTech 100 rankings are recognised globally as the most comprehensive and prestigious study of the top technology firms active in risk management market. This year saw the addition of an 'innovation' category, to recognise those companies that have driven the development of risk management technology over the past 12 months. FRSGlobal was identified as a leader in this field following the acquisition of IRIS integrated risk management AG (IRIS) - a provider of risk management solutions - in August 2008, enabling FRSGlobal to provide financial services companies with the first and only combined risk and regulatory reporting solution on a single unified platform.

Despite the tough market environment, FRSGlobal has witnessed growing demand for its offering as financial institutions have been forced to review and improve their risk management systems and procedures, and also get to grips with increasingly complex regulatory reporting requirements.

The full Chartis RiskTech 100 report can be obtained at http://www.chartis-research.com

Steve Husk, CEO of FRSGlobal, commented: "It's a great achievement to break into the top 10 and we feel extremely buoyant about our prospects for 2009. In a year where the topic of risk has rarely been out of the financial headlines, FRSGlobal has actively looked to expand and the acquisition of IRIS earlier this year highlights our ambitions for further growth."

"Although the current financial landscape lends itself to providers of risk and regulation solutions, this is not a time to be complacent - as the Chartis report highlights, innovation is vital to the success of a technology business. Indeed, one of the key reasons for our acquisition of IRIS was its strong focus on research and development."

"Given the tough market environment, the benefit of a combined risk and regulatory offering on a single platform is particularly pronounced. To that effect, we are pushing on with initiatives across Europe, the Americas and emerging markets - providing clients and prospective clients with the solutions to cope with the demands of an ever-increasing risk and regulatory framework."