SS&C Launches Risk Scenarios-as-a-Service

Rhea-AI Summary

SS&C Technologies Holdings (NASDAQ: SSNC) has launched Algorithmics Scenarios-as-a-Service (ScaaS), a subscription-based service for financial risk simulation. This innovative service utilizes machine learning and comprehensive financial risk modeling to offer stress-testing scenarios, particularly addressing the impacts of pandemics like COVID-19. ScaaS provides specialized stress tests over various periods to enable organizations to make informed decisions in volatile markets. Subscribers gain access to a library of current and historical scenarios delivered through a flexible API.

Positive

• Launch of ScaaS enhances risk management capabilities in volatile markets.
• Utilizes machine learning and innovative methodologies for accurate stress testing.
• Subscription model provides instant access to a comprehensive library of stress scenarios.

Negative

• None.

WINDSOR, Conn., March 17, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the launch of SS&C Algorithmics Scenarios-as-a-Service (ScaaS), a subscription-based risk scenario and simulation service. Using innovative financial risk modeling and the latest global datasets, ScaaS provides stress testing scenarios on macroeconomic factors. The first scenario in the series focuses on the impact of pandemics such as COVID-19.

Using machine learning, advanced financial risk modeling and innovative stress-testing methodology, ScaaS pandemic risk service delivers specialized stress-tests over one, five, and ten-day periods to help organizations make decisions in a dynamic market. The pandemic scenario links epidemiological Susceptible, Infected, Recovered and Death (SIRD) factors to major global indices across North America, Europe and Asia, and can expand to include other macroeconomic data analytics.

"Effective scenario planning and stress testing are critical in today's volatile markets," said Mina Wallace, General Manager, SS&C Algorithmics. "Our comprehensive library of stress scenarios enables organizations to plan for changing market conditions with more accurate risk assessments. The result is a cost-effective and efficient solution for financial institutions to help prepare for what's ahead." 

Pandemic risk is the first of a rich set of scenarios that will form part the service and be available on a subscription basis. Subscribers to ScaaS's content receive instant access to a library of state-of-the-art current and historical stress tests. The content is delivered through a flexible API to simplify implementation.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is ScaaS launched by SSNC?

ScaaS, or Scenarios-as-a-Service, is a subscription-based risk simulation service announced by SS&C Technologies that utilizes advanced financial modeling and machine learning for stress testing.

When was the ScaaS service launched?

The ScaaS service was launched on March 17, 2021.

How does ScaaS help organizations?

ScaaS helps organizations by providing specialized stress testing related to macroeconomic factors, thereby enabling better risk assessments and decision-making.

What kind of scenarios does ScaaS focus on?

The first scenario focuses on the impact of pandemics like COVID-19, using epidemiological factors linked to global indices.

What are the benefits of ScaaS for financial institutions?

ScaaS offers a cost-effective and efficient solution for financial institutions to prepare for changing market conditions through accurate risk assessments.