Best Model Risk Management Software in the UK of 2025

Compare the Top Model Risk Management Software in the UK as of December 2025

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What is Model Risk Management Software in the UK?

Model risk management software is a comprehensive tool designed to help organizations effectively manage and mitigate the potential risks associated with their models. It uses advanced data analytics and modeling techniques to identify and evaluate potential risks, allowing businesses to make more informed decisions. Some model risk management software tools also offer AI model risk management capabilities, which enable users to assess the potential risks posed by artificial intelligence models. With its user-friendly interface and customizable features, this software provides a reliable solution for organizations looking to enhance their overall risk management processes. By utilizing this software, companies can proactively monitor and address any potential risks that may arise from their models, thus minimizing the impact on their business operations. Compare and read user reviews of the best Model Risk Management software in the UK currently available using the table below. This list is updated regularly.

1

LogicGate Risk Cloud

LogicGate

LogicGate’s leading GRC process automation platform, Risk Cloud™, enables organizations to transform disorganized risk and compliance operations into agile process applications, without writing a single line of code. LogicGate believes that flexible, easy-to-use enterprise technology can change the trajectory of organizations and the lives of their employees. We are dedicated to transforming the way companies manage their governance, risk, and compliance (GRC) programs, so they can manage risk with confidence. LogicGate’s Risk Cloud platform and cloud-based applications, combined with raving fan service and expertly crafted content, enable organizations to transform disorganized risk and compliance operations into agile processes, without writing a single line of code.

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2

Modelscape

MathWorks

The Modelscape solution enables financial institutions to reduce the complexity of managing the lifecycle of financial models while improving model documentation, transparency, and compliance. By implementing the solution throughout the model lifecycle, you can use templated model workflows, automated documentation, and artifact linking. Scale algorithms, models, and apps both horizontally and vertically. Provide support for enterprise infrastructure, tooling, and languages such as Python, R, SAS, and MATLAB. Track issues across the model lifecycle with full model lineage, issue, and usage reporting. Use the executive dashboard for model data, custom algorithm execution, automated workflows, and web-based access to a comprehensive, auditable inventory of all models and dependencies. Develop, back-test, and document models and methodologies. Improve transparency, reproducibility, and reusability of models. Automatically generate model documentation and reports.

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3

ClusterSeven

Mitratech

With ClusterSeven Shadow IT Manager, gain control over the hidden spreadsheets and other data assets that put your enterprise at risk. Discover and manage the hidden, sensitive spreadsheets, applications, and data assets that lie outside of IT’s control – and create risk. Now you can easily and efficiently capture and maintain an inventory of the files your organization relies upon and monitor who’s making changes, helping you meet audit and compliance requirements and prevent problems before they impact your enterprise. Classify the risks associated with your newly discovered EUC files and organize them in a centralized database. Once you’ve established the spreadsheets your organization is using, you can carry out a deeper risk analysis on critical files using rules that matter to your business, such as the complexity of a formula or macro, use of sensitive terms in the file like “confidential,” inclusion of unprotected client or personal data, or the presence of hidden worksheets.

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4

Focus

Paragon Business Solutions

Focus is a central tool that improves model governance, transparency, efficiency and effectiveness. Focus ensures you adhere to best practice for regulatory requirements in a controlled, systemic way. Define and adhere to policy and process, with comprehensive records, reporting and remediation to help you stay on track. With easy, controlled access to all models, reports and documents and up to the minute status, tasks and actions dashboards, it also facilitates better prioritization and resource planning in a single practical solution. - Defined data and model dependencies and taxonomy - Centralised model inventory - Model risks reported and remediation plans tracked - Model lifecycle events and workflow management - Full audit trail, tracking and reporting - User configurable reporting and querying - Implementation flexibility

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