Oxial, Squirro & Qumram Unite for Innovative Enterprise Risk Management Partnership

September 12, 2016

Zurich, Switzerland – September 12, 2016 – Hammer Team, the Swiss software incubator, today announces its support for a new partnership that will combat the challenges of Enterprise Risk Management.  The partnership consists of a trio of proven B2B financial technology providers within the Hammer Team group, namely, Oxial (governance risk and control software), Squirro (enterprise analytics and insights developer), and Qumram (cross-channel digital compliance and customer experience analytics).

The partnership was created in response to the growing industry demand for ERM solutions to broaden their reach with expertise and integration. Pierre Pourquery, UK Head of Capital Market Solutions at Ernst and Young, says, “A key challenge we’re seeing in the industry right now is a need to bring a new level of consistency in managing risk across an organisation. This new Hammer partnership is an excellent example of how those needs will be met, giving companies immediate lateral compliance and increased value, without compromising on specialist expertise in any one area.â€​

The new ERM alliance offers real-time analytics and automation and creates a ‘best-practice’ ecosystem that stretches upwards from a foundation of data sources (both structured and unstructured), across multiple risk scenarios (including AML/KYC, fraud, financial, IT, process and business), before moving up through the organisation to create an omni-analytical layer (AI, correlation, pattern, aggregation, prediction) and culminating in a core top ERM layer (control, surveillance, scenario analysis, client and pricing strategy). This ecosystem supports compliance and best practice standards for numerous regulations including: Basel II & III, Solvency II, COSO II, Cobit V4, ITIL, ISO31000, ISO27001, QHSE, SST, ISO9001:2008, MiFID2, DoL, CFPA, SEC 17a-4, FFSA.

For banking customers, the partnership brings together a range of safeguards, across the enterprise that reduce risk, ensure regulatory compliance, increase transparency, and better protect the interests of financial services consumers.

Ariel Lüdi, serial entrepreneur and founder of the Hammer Team incubator, says the partnership benefits from the collective strengths of its members, and their individual areas of proficiency, “We’re launching from a position of trust in the industry. The collective customer base of Oxial, Squirro and Qumram already includes some of the world’s leading financial institutions – UBS, Wells Fargo, Deutsche Bank, Barclays, Credit Suisse and Credit Mutuel to name a few. Each company has proven expertise and preferred technologies in some of the most demanding and risk-averse enterprise environments. Together, we intend to bring the benefits of our integrated offering to the ERM market globally.â€​


The launch of the partnership will be marked in an upcoming webinar on Wednesday, October 5 , when the CEOs of the three companies will share their vision on the challenges and opportunities facing the ERM market today. To register for the webinar, please visit: https://www.oxial.com/erm-eco-system/

About Oxial

OXIAL is the Swiss Governance, Risk and Control Software vendor and developer.  Our solutions enable customers to deliver consistent Governance, Risk and Control procedures and benefits from swift implementation and agile change management with an efficient modular framework. OXIAL is the preferred solution of over 75 customers from the financial services, manufacturing and insurance sectors. OXIAL has offices in Switzerland, France, Morocco and the UK.


About Squirro

Squirro is a data insights solution developer. Based in Zurich and with offices in London, New York, Munich and Barcelona, Squirro is deployed by the world’s leading banks, law-enforcement agencies and other data-driven organisations. Squirro’s cognitive technology extracts more value from complex data environments through increased operational efficiency and additional revenue opportunities. The core suite of Squirro solutions offers risk, service, and customer insights. Twitter: @squirro www.squirro.com

About Qumram

Qumram is an award-winning global provider of multi-channel digital recording, e-discovery, and web archival solutions. Many of the world’s leading financial institutions use Qumram to seamlessly record and replay all interactions, via all digital channels to prove compliance, mitigate conduct risk, resolve disputes, aid fraud detection, expose employee governance issues, and improve customer experience. Qumram is headquartered in Zurich, with offices in London, Barcelona and San Francisco.

Twitter: @QumramAG www.qumram.com