London Bridge Software has acquired an undisclosed stake in privately-held operational risk management vendor Amelia Financial Systems.
Ten-year old Amelia currently claims 30 clients for its Orcas risk application framework. The company is about to roll-out a next-generation Web-based solution OR2Q (Operational Risk Qualitative and Quantitative) which will now be distributed through London Bridge offices worldwide.
Gordon Crawford, London Bridge chairman, says the operational risk management market is set to be one of the fastest-growing areas in the banking software sector: "Amelia has a strong track record in operational risk, which is supported by their existing clients."