Owlin named as ‘Category Leader’ for three key management segments in Chartis’ Latest Survey
Owlin, the leading provider of AI-powered text and news analytics solutions for financial institutions, has been recognized as a market leader ‘Third Party Risk Management’, ‘Governance Risk and Compliance’, and ‘Conduct and Control’ in the “GRC Solutions, 2021: Market Update and Vendor Landscape” report by Chartis Research.
Currently, many third-party risk management solutions struggle getting real-time updates and sourcing actionable insights from the ever-increasing news and data flows. Owlin’s platform and approach addresses these issues and is able to serve real-time actionable insights based on news and other key data sources (e.g. financial reports and reviews). The launch of Owlin’s 3.0 version of the platform will further strengthen and expand these capabilities.
“The number of successful partnerships with our clients is a testament of the value our platform adds to their businesses. Now also getting recognition from such a reputable organization makes us even prouder,” shares Sjoerd Leemhuis, Co-founder & CEO of Owlin. “It validates our vision and approach to shape a better and more informed world and ease financial institutions in the transition from manual and audit-based risk management, to automated, machine-driven advanced analytics,” he adds.
Chartis ranks vendors as “category leaders” based on the depth and breadth of their technology solutions, strong brand awareness, global reach, and stable alliance strategies with leading consulting firms and systems integrators. “Vast volumes of unstructured data are being produced by the digitalization of institutional business processes,” explains Sid Dash, Research Director at Chartis Research. “Owlin’s ability to leverage ML and NLP to analyze and profile this data is reflected in its “category leader” position in the quadrant for third-party risk management systems,” he concludes.
As a market leader in the different quadrants, Owlin joins global organizations and well-established companies with decades-long history. This shows that the agility and flexibility of a company as young as Owlin is also backed by the needed expertise and technological capabilities to add value to its clients and help them improve their risk management processes.
Chartis’ analysts ranked Owlin as a market leader in the following segments:
Third-Party Risk Management (3PRM)
Being a 3PRM market leader is especially important for Owlin, considering the efforts it has been investing in helping its clients deal with the growing complexity of global supply chains and emerging markets, the increasingly stringent regulations, and the challenges of doing business in a globalized world.
The 3PRM segment is among the GRC subcategories with the highest growth. Тhe market leaders are identified through an in-depth evaluation of a series of factors and assessment criteria, including data management, workflow and automation, compliance capabilities, controls framework, reporting and visualization, customer satisfaction, and more.
Owlin’s platform is acknowledged as an important machine learning (ML) and natural language processing (NLP) solution provider that can enhance the risk management controls of organizations, their supply chains, and third-parties.
In the top-right quadrant, the vendor is joined by leading providers of 3PRM solutions like PwC, IHS Markit, and IBM.
Governance Risk and Compliance (GRC) Analytics
Based on the completeness of its offering and the market potential, Owlin is also ranked as a market leader in the GRC Analytics category.
The scoring in this subsegment is based on the advanced analytics of the different solutions, their regulatory intelligence capabilities, and the adoption of advanced analytical tools such as NLP and ML.
The recognition is a massive testament to Owlin’s capabilities to help companies adequately conduct and optimize their in-house governance and compliance procedures.
Conduct and Control
Owlin can also be found in the “Market Leaders” section of the RiskTech Quadrant® for Conduct and Control solutions. The subcategory reflects a view of the mechanisms by which firms manage and secure controls within the organization to ensure (regulatory) compliance.
The platform shines in assessment criteria like extensibility, ease of integration, and scalability/enterprise readiness.