Oxial, Squirro, Qumram: New Enterprise Risk Management Alliance13.09.2016 17:21
Oxial, Squirro and Qumram unite for an innovative Enterprise Risk Management partnership. All three companies are members of the Hammer Team, a Swiss Software Incubator.
Hammer Team, the Swiss software incubator, today announces its support for a new partnership that will combat the challenges of Enterprise Risk Management. The partnership consists of a trio of proven B2B financial technology providers within the Hammer Team group, namely, Oxial (governance risk and control software), Squirro (enterprise analytics and insights developer), and Qumram (cross-channel digital compliance and customer experience analytics).
The partnership was created in response to the growing industry demand for ERM solutions to broaden their reach with expertise and integration. Pierre Pourquery, UK Head of Capital Market Solutions at EY, says, “A key challenge we’re seeing in the industry right now is a need to bring a new level of consistency in managing risk across an organisation. This new Hammer partnership is an excellent example of how those needs will be met, giving companies immediate lateral compliance and increased value, without compromising on specialist expertise in any one area.”
The new ERM alliance offers real-time analytics and automation and creates a ‘best-practice’ ecosystem that stretches upwards from a foundation of data sources (both structured and unstructured), across multiple risk scenarios (including AML/KYC, fraud, financial, IT, process and business), before moving up through the organisation to create an omni-analytical layer (AI, correlation, pattern, aggregation, prediction) and culminating in a core top ERM layer (control, surveillance, scenario analysis, client and pricing strategy).
For banking customers, the partnership brings together a range of safeguards, across the enterprise that reduce risk, ensure regulatory compliance, increase transparency, and better protect the interests of financial services consumers.
Ariel Lüdi: Launching from a position of trust
Ariel Lüdi, serial entrepreneur and founder of the Hammer Team incubator, says the partnership benefits from the collective strengths of its members, and their individual areas of proficiency, “We’re launching from a position of trust in the industry. The collective customer base of Oxial, Squirro and Qumram already includes some of the world’s leading financial institutions – UBS, Wells Fargo, Deutsche Bank, Barclays, Credit Suisse and Credit Mutuel to name a few. Each company has proven expertise and preferred technologies in some of the most demanding and risk-averse enterprise environments. Together, we intend to bring the benefits of our integrated offering to the ERM market globally.”
The Hammer team is the software startup incubator of Ariel Lüdi. The mission and goal of this startup fund is to support early stage B2B software solution companies.Ariel Lüdi was a major shareholder and CEO of hybris, one of the world’s fastest growing e-commerce companies, for eleven years. He helped to develop the company and position it as a global commerce leader. Ariel's role was also instrumental in driving the successful acquisition of the company by SAP in August 2013 for more than 1B USD: the world’s biggest private software company transaction of its time.