Profile Software Launches the Third Generation of RiskAvert

​International financial solutions provider, Profile Software has launched the 3rd version of its cloud-enabled risk management platform—RiskAvert​. The upgraded risk & compliance solution addresses the needs of financial institutions in the area of regulatory capital calculations and reporting.

This time, the 30-year software provider further enhanced RiskAvert in a couple of aspects. Besides the ungraded User Interface that allows users to securely access all functions remotely and from any device, RiskAvert 3.0 also added in Basel III securitisation framework, the EBA regulatory reporting, the quantitative self-assessment reports of risk transfer to help clients from the banking sector meet their compliance requirements.

In response to Covid-19, Profile Software also introduced the recently enforced rules addressing how to prioritize exposures to enterprises, governments, and banks during the pandemic into the new generation of RiskAvert.

The last change worth noting is that it becomes easier now for users to identify potential differences between accounting data and raw risk data in RiskAvert 3.0 as the Greece-based international IT company went live with new functionality related to financial reconciliation in the system of the latest version.

RiskAvert made its debut in 2017 and was implemented by a major banking group in SE Europe in the same year, Optima bank S.A. (previously known as Investment Bank of Greece, IBG) in 2018, Eurobank in 2019, and UK-based Allica Bank in 2020. With the launching of the new upgraded version, this risk management platform is expected to attract more banks and other financial institutions.