Risk management and RegTech firm Percentile has launched its modular RiskMine platform designed for trading institutions and investment banks.
RiskMine enables risk managers to have all of their market, credit, counterparty and liquidity risks in one place, allowing them to focus on effective risk management, rather than spending a large proportion of their time on data management and maintenance.
The launch coincides with Percentile signing a major US bank as well as participation in the UKTI’s RegTech mission to New York this week.
The US bank deal represents a multi-region, multi-year agreement that followed a successful proof-of-concept showcasing Percentiles’ capabilities and expertise in delivering optimal risk and regulatory reporting solutions.
Anthony Pereira (pictured), CEO of Percentile, says: “This is further acknowledgement that RiskMine offers banks a proven, cost-effective way to aggregate multiple sources of risk without disrupting existing infrastructure. We are delighted to launch our service in the US and having a major US bank sign-up to it is an excellent endorsement.
“Compliance is a major concern to all financial institutions and current and forthcoming regulations such as BCBS239 and FRTB are pushing risk teams in banks to improve their day-to-day processes and to report in a far more granular way than ever before. This means that banks need to focus on building a scalable, future-proof risk architecture. Every module in our RiskMine platform is designed to simplify that process for our clients.”
Percentile was one of 16 UK firms selected to participate in the UK’s Department for International Trade (DIT) first UK RegTech mission to New York, during Fintech week. As part of this initiative Pereira will be attending the Empire Startups FinTech conference in New York (25-26 April).
