Financial technology provider PensionsFirst – creator of risk management platform PFaroe – has changed its name to RiskFirst. Having established itself in the past four years as a provider of Software as a Service (SaaS) risk analytics and reporting for the defined benefit (DB) pension industry, the company says it is now broadening its focus 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.
PFaroe, for which the company holds a patent in the US, provides a cross-balance sheet view of liabilities, assets and risk, consistently presented in one place. As an online platform, the solution is designed to provide instant access to up-to-date information and, because it is delivered in modular form, users can license according to their needs for day-to-day management or for specific projects.
Timothy Lyons, founder of RiskFirst, comments: “With the growing success of PFaroe and the interest we are seeing in its application to markets beyond pensions, we are now focussed on becoming one of the world’s leading FinTech businesses, providing web-based risk analytics to pension schemes, insurance companies and other verticals. Our change of name reflects this aspiration and marks the beginning of a new chapter in our development.”
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