Scila Risk Module - real-time risk modelling and risk model validation
Purpose and goal
Scila has developed a platform for calculation and validation of financial risk in real-time within the framework of the Scila Risk Module project. To be able to achieve this the project has focused on (i) a comprehensive analysis of the market and competitors to develop a clear understanding of requirements and (ii) design and implementation of a modern, robust, and scalable system with a flexible user interface that facilitates visualisation of financial risk.
Expected results and effects
The project has developed a system with the functional and technical requirements that was identified during the initial requirements work and the system is now ready to implemented at a reference customer. Scila’s assessment is that the system has a big potential and it has already received interest within Scila’s existing customer base. The development of the the system will continue after the project within the Vinnova financed project framework. The coming efforts will focus on marketing and continued development of risk models.
Planned approach and implementation
The project was conducted in four phases. In phase one market and competitor analysis was conducted for a deepened understanding of the basic functionality needed in addition to the specific innovative functions. Basic requirements was specified and the technical design of the system was initiated in phase two. Phase three and four focused on implementation and comprised explorative development to assess different system designs and techniques. Collaboration with potential reference customers to ensure functional requirements has also been an important part of the project.