July 2007

The report, written and published by Chartis Research, is entitled ‘Operational Risk Management Systems 2007: the second wave has arrived’ and positions MEGA in the Component ORM Applications segment of the market. Chartis Research is a leading provider of research and analysis on the global market for risk technology.

The Chartis report also states that, besides a ‘scalable business model’ and sustained and profitable growth, to be successful in the ORM market a software vendor must offer a flexible technology architecture, continual innovation, a scalable sales and marketing strategy, and domain expertise, ‘where software is only part of the solution’.

The Chartis report is an update of the market research company’s 2006 review on operational risk management systems. MEGA was not cited in that report because it launched its ORM solution, MEGA GRC Suite, in December 2006, well outside the timeframe of last year’s review.

The latest report considers the demand and supply sides of the market, forecasting that: “the worldwide operational risk management (ORM) market will grow at a compound annual growth rate of 9 per cent to reach $1.55bn by 2011 (financial services sector only).”

The report covers the main market, including a focus on the financial services sector, with information about regulatory requirements and competitive suppliers in the market. Updated forecasts on market size, vendor rankings and best practices are examined. The report also states that “Chartis expects ORM systems to become an integral part of every financial institution’s enterprise risk and performance management system and to reach maturity in 2012”.

For further information on the full report see www.chartis-research.com

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