Quantifi, a provider of risk, analytics and trading solutions, today announced that it has been named Operational Risk Technology of the Year at the CIR Risk Management Awards, for its investment in microservices. This is Quantifi’s third CIR Risk Management award in four years. Judged by an independent panel of experts, the awards distinguish organisations and teams that have significantly added to the understanding and best practice of risk management.
The derivatives landscape has evolved greatly over the past few years, driven by the scale and pace of regulatory change, economic unease and competitive pressures. These drivers have heightened the attention on risk technology and operations. So how can firms construct scalable, next-generation technology building blocks to respond to the challenges of today and be flexible enough to adapt to the world of tomorrow? Large global enterprises like Google, Amazon and Netflix have completely rethought how they build and deliver software, using modern technology. This new design philosophy is called microservices, a direction that reshapes the structure of risk technology.
“Quantifi’s investment in microservices has reshaped how we serve our clients by addressing these modern business requirements of speed, agility and scalability.”Mark Traudt, CTO, Quantifi
This award recognises how Quantifi has stayed ahead of competition by making smart investments in new technology that translate into long-term value for clients. A key focus over the past 12 months has been to make Quantifi more open and flexible by separating out its architecture to microservices. A microservices architecture is a new approach to financial technology that optimises evolutionary change at a granular level. It is an approach where large applications are separated out into small, loosely coupled, API-accessible, single-purpose components. Microservices is emerging as the critical differentiator as firms take advantage of the flexibility, speed, efficiency, resiliency and scalability offered by microservices vs a monolithic model.
“We are delighted to receive the CIR Risk Management award, recognizing our commitment to technology,” comments Mark Traudt, CTO, Quantifi. “Leveraging better technology can increase flexibility, improve performance, lower costs and reduce operational risk. Firms want to minimise the number of different technologies that are in play, aiming to lower costs and improve resiliency. They want to be able to upgrade functionality with minimal operational interruption. Quantifi’s investment in microservices has reshaped how we serve our clients by addressing these modern business requirements of speed, agility and scalability.” continues Mark
About CIR Magazine
Since its launch in 1996, Continuity, Insurance & Risk has become essential reading for risk management, business continuity and commercial insurance purchasers. CIR‘s portfolio has expanded over time to include multi-channel campaigns, video, the Business Continuity Awards, the Risk Management Awards, Commercial Insurance Awards, roundtables and research. A market leader in the sector, the CIR brand has a strong reputation for independent, authoritative reporting and high quality analysis.
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