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CCH Sword in Visionaries Quadrant of Magic Quadrant for Operational Risk Management Software for Financial Services
Position Reflects Completeness of Vision and Ability to Execute
(RIVERWOODS, ILL., September 10, 2009) − CCH Sword, a leading developer and supplier of operational risk control solutions and a part of CCH, a Wolters Kluwer business, has been positioned by Gartner, Inc. in the Visionaries quadrant of the Magic Quadrant for Operational Risk Management Software for Financial Services.* The Magic Quadrant assessed 18 vendors that offer operational risk management (ORM) software applications for financial institutions.
In the report, “Magic Quadrant for Operational Risk Management Software for Financial Services,” issued on August 28, 2009, Gartner states that “end-user clients should view risk management with the same degree of mission criticality and substance as other significant enterprise platforms, core banking, ERP, payments, and so on.”
“We are delighted with our position in the 2009 Magic Quadrant,” said CCH Sword Managing Director Seamus O’Farrell. “CCH Sword believes that the current financial crisis has emphasized the need for financial institutions to embed a risk management mentality in their business staff throughout the enterprise, and it is gratifying that our partnership approach with customers, resellers and associated companies in achieving this is recognized by the industry. We will continue with this strategy in order to deliver to our customers comprehensive and integrated products and services that help them control and manage risk throughout their organizations.”
Other key milestones for CCH Sword in 2009 include:
- Selection of CCH Sword as the platform for ORIC (the Operational Risk Consortium), the operational loss database managed by the Association of British Insurers.
- Integration with the leading audit management solution, CCH TeamMate.
- Launch of CCH Sword Essential, a pre-configured risk management solution for small and mid-tier banks, asset managers and insurers.
- The upcoming October launch of Wiz® Compass, a risk management solution for community, regional and national banks in the United States; Wiz Compass is powered by Sword with pre-configured compliance content that includes lending, deposit, privacy and anti-money laundering/Bank Secrecy Act regulations.
About the Magic Quadrant
The Magic Quadrant is copyrighted August 28, 2009by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About CCH Sword
CCH Sword, based in Dublin, Ireland, is a part of CCH, a Wolters Kluwer business. It serves over 3,000 users in Europe, North America and Asia Pacific, with enterprise risk management (ERM) software, governance, risk and compliance software and IT consulting services to provide corporations with a comprehensive view of operational risk in conjunction with audit activities. Established in 1995, CCH Sword became part of CCH, a Wolters Kluwer business in 2008 and was renamed from Ci3 to CCH Sword.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of best-of-breed audit, risk and compliance software, information and services to organizations of all sizes. CCH delivers specialized solutions, integrating authoritative regulatory and compliance content and award-winning software tools that enable organizations worldwide to maximize compliance and operational efficiencies and minimize risk.
CCH solutions can be used independently or leveraged together to maximize compliance and operational efficiencies and minimize risk. Its solutions include CCH TeamMate for internal audit management; CCH Sword for operational risk management; and Axentis and ComplyTrack for compliance. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer had 2008 annual revenues of €3.4 billion, employs approximately 20,000 people worldwide, and maintains operations in over 35 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit www.wolterskluwer.com for information about our market positions, customers, brands, and organization.
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*Gartner, Inc." Magic Quadrant for Operational Risk Management Software for Financial Services,” issued on August 28, 2009" by Douglas McKibben and David Furlonger.