Financial technology provider PensionsFirst – creator of the risk management platform PFaroe – has changed its name to RiskFirst, officials say.
The new name reflects the broader focus of the company, which wants to meet the growing demand from insurers and other buy-side risk managers for more sophisticated analytics to manage multi-asset portfolios and to master regulatory complexity, vendor officials say.
The company started out as a provider of software as a service (SaaS) risk analytics and reporting for the defined benefit pension industry. Benjamin Reid, president of RiskFirst, says the company will be offering its web-based, risk analytics to insurance, healthcare, defined contribution pensions and wealth management vertical markets.
The PFaroe platform, launched in November 2009, provides a cross-balance sheet view of liabilities, assets and risk, in one place, officials say. The system offers access to updated information and users can license the software via modules according to their needs for day-to-day management or for specific projects.
In use at 380 pension plans with more than £150 billion of liabilities, PFaroe is targeting the US DB pensions sector through RiskFirst’s partnership with Winklevoss Technologies, officials say. RiskFirst also delivers its technology in the form of white-labelled solutions for partners such as LGIM and Punter Southall and in April 2013, announced the formation of a JV with PwC, to deliver a risk analytics product called Skyval to PwC’s customers in the UK and the US.
Need a Reprint?
Leave a Reply