RiskSpan
- Company typePrivate
- Founded2009
- HeadquartersArlington, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What RiskSpan does
RiskSpan is a privately held U.S. financial technology company, founded in 2001 and headquartered in Arlington, Virginia, that builds a cloud-native analytics platform for loans, mortgage servicing rights (MSRs), private credit, and structured finance securities. Its Edge Platform consolidates loan-level data management, prepayment and credit modeling, securities valuation, portfolio risk analytics, CECL/OTTI credit loss accounting, and climate risk scoring into a single SaaS offering, replacing the multi-vendor stacks commonly used by mortgage and structured finance teams. The platform is built on Snowflake with distributed compute on AWS, ingests data via AI-driven pipelines (Smart Mapper), and offers AI-powered capabilities including document processing, predictive prepayment/credit modeling, and an Agentic AI analyst for natural-language MBS data queries.
The company serves enterprise clients across asset management, broker-dealers, banks, mortgage REITs, hedge funds, insurance firms, GSEs (Fannie Mae, Freddie Mac), and private credit funds, with named logos spanning Goldman Sachs, Bank of America, Citibank, PNC, Truist, AllianceBernstein, Capital Group, Guggenheim, DoubleLine, Citadel, Barings, and Santander. RiskSpan monetizes through a usage-based SaaS subscription on the Edge Platform, managed services (Data as a Service, Risk as a Service, Climate Risk), and professional/consulting engagements for data engineering, modeling, and Snowflake migration work. Distribution leverages direct enterprise field sales alongside channel partnerships with LSEG (global evaluated pricing for ~100,000 CUSIPs daily) and the Snowflake Marketplace, supported by a Bangalore engineering office and presence at structured finance industry events.
RiskSpan employs 101–250 people across Arlington, New York City, Darien (CT), and Bangalore, and is led by co-founders Bernadette Kogler (CEO) and Suhrud Dagli (CTO/CIO). The business has no disclosed institutional funding, operates as a profitable founder-controlled private company, and has been recognized with four consecutive RiskTech100 listings (2021–2024) and three HousingWire Tech100 awards, reflecting sustained product credibility in structured finance technology.
RiskSpan firmographics
Firmographics- Name
- RiskSpan
- Legal name
- RiskSpan
- Website
- https://riskspan.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
RiskSpan industry classification
Industry- Product category
- Structured Finance Analytics Software
- NAICS
- Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Asset-Backed Securities (6189), Investment Advice (6282), Finance Services (6199)
- akta.pro primary industry
- Risk Scoring, Credit & Fraud Analytics (counterparty/wallet risk) (FSAPAJAF)
- akta.pro secondary industries
- Prudential & Market Risk Management (VaR, Stress, Limits) (FSACAJAF), Collateral, Lien & Asset Valuation Platforms (Auto, Equipment, Real Estate) (FSAGAHAG), Risk Analytics, Portfolio Monitoring & Early-Warning (Consumer Credit) (FSAKAKAH)
Keywords
Where RiskSpan is headquartered
LocationHeadquarters
- HQ city
- Arlington
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
RiskSpan business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- SaaS Platform Subscription (Usage-based): RiskSpan's Edge Platform operates on a usage-based (pay-as-you-go) pricing model, where clients pay for compute they use rather than licensing individual product modules. Clients have access to the full platform including data, models, and analytics. Powered by AWS cloud infrastructure since early adoption in 2010. Billing is based on user-configured workloads that can scale up or down. Clients can share costs across the enterprise and track usage by individual functions.
- Managed Services (Ongoing): Managed services offering including Data as a Service (DaaS), Risk as a Service (Raas), and Climate Risk managed services. Clients outsource data management, portfolio risk analytics, and climate risk reporting to RiskSpan's team. Supports daily automated analytics runs and overnight processing.
- Professional Services and Consulting: Consulting services covering data solutions (data science, ML services, data pipelines, Snowflake integration), modeling solutions (model builds, model risk management, portfolio analysis, securitization), and cloud solutions (application modernization, cloud data migration). Billed by engagement or project scope.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Usage-based full platform access (no per-module licensing) |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels7 records
RiskSpan product offering
Product offeringCore offering
RiskSpan sells the Edge Platform, a cloud-native analytics platform that integrates asset and market data with proprietary prepayment, credit, and valuation models for loans, mortgage servicing rights (MSRs), private asset-backed finance, and structured finance investments. The company also offers managed analytics services (Risk as a Service, Data as a Service, Climate Risk, Credit Loss Accounting) and consulting services (Data Solutions, Modeling Solutions, Cloud Solutions, Snowflake Integration) to asset managers, dealers, banks, mortgage REITs, insurance firms, and private credit funds.
Product overview
RiskSpan offers a unified Edge Platform with modular analytics for loans and structured finance, combining on-demand tools with managed services. The platform encompasses trading and analytics modules (Historical Performance, Collateral Analytics, Agency MBS, MSRs, Private-Label RMBS, Residential Whole Loans, Private Credit ABF), climate risk analytics, credit loss accounting (CECL/OTTI), Data as a Service, Risk as a Service, and consulting services (Data Solutions, Modeling Solutions, Cloud Solutions, Snowflake Integration). The platform integrates proprietary prepayment and credit models, loan-level analytics, and AI-powered tools including Agentic AI for MBS Data.
Differentiator
Problem solved
Functional benefit
Brands
- EDGE Platform: Cloud-native analytics platform for loans, MSRs, private credit and other structured finance investments.
- Risk as a Service
- Data as a Service (DaaS)
- RS One
Products and services
- Edge Platform Cloud-native analytics platform that integrates asset and market data with proprietary models and analytics for loans, mortgage servicing rights (MSRs), private credit, and structured finance investments. Provides on-demand and managed service analytics for asset managers, dealers, banks, mortgage REITs, insurance firms, and private credit funds, with usage-based pricing for full platform access including data, models, and analytics.
- MSR Analytics Solution Comprehensive MSR analytics solution available through the Edge Platform that delivers loan-level historical performance analysis, AI-powered Smart Mapper technology, loan-level MSR pricing models, and customizable scenario testing for agency, non-QM, and jumbo MSR portfolios. Built for MSR traders, mortgage servicers, and MSR sellers requiring option-adjusted valuation and MSR cash flow engine capabilities.
- Agentic AI for MBS Data AI-powered agent that delivers instant, sourced, context-rich analysis of Agency MBS loan-level data in plain English. Accepts natural language questions and returns clear, visualized, and fully-cited answers in seconds, available 24/7, eliminating the need for SQL or Python expertise in MBS data analysis.
- Credit and Prepayment Curves for Auto and Personal Loans Standardized credit and prepayment curves for auto and personal loans created from anonymized Equifax loan-level performance data. Differentiated by loan term and credit score, the curves support benchmarking, stress testing, and scenario analysis for public ABS and private asset-backed finance portfolios.
- Risk as a Service (RaaS) Fully managed cross-asset risk solution covering 70+ asset classes, including structured products, mortgage loans, MSRs, private credit, equities, FX, commodities, interest rate, and derivatives. Delivers portfolio risk, market risk, sensitivities, VaR, stress tests, and regulatory compliance reporting (Form PF, AIFMD) via distributed cloud computing with daily automated analytics runs.
- Data as a Service (DaaS) Managed data warehousing, aggregation, validation, and normalization for loan and MSR portfolio data with daily updates from primary loan servicers. Includes Smart Mapping, exceptions reporting, data lineage tracking, and audit trail, accessible via Edge Platform, direct API, or Tableau.
- Climate Risk Managed Service Managed climate risk service for the mortgage space built on Verisk Extreme Event Solutions catastrophic models. Provides property-specific analysis for flood, storm, earthquake, and wildfire risk with loan-level hazard risk scoring, climate and natural hazard stress testing scenarios, and portfolio dashboards.
- Credit Loss Accounting Managed Service Audit-ready credit loss accounting managed service covering ASC 326-20 (CECL), 326-30, and 320-10 (OTTI) frameworks for loans, HTM debt securities, AFS securities, and receivables. Delivers automated, granular credit loss estimates and audit-ready reporting packages from a SOC 1 and SOC 2 Certified application.
- Data Solutions Consulting Professional consulting services covering data science and ML services, data pipelines and framework engineering, data quality assurance, and Snowflake integration. Billed by engagement or project scope for clients seeking to unlock the full potential of their structured finance and loan-level data.
- Modeling Solutions Consulting Expert consulting services for financial models, forecasting models, machine learning models, model risk management, portfolio analysis, and securitization. Billed by engagement or project scope for clients requiring bespoke model builds or independent validation.
- Cloud Solutions Consulting Cloud modernization consulting services covering application modernization to cloud-native solutions and cloud data migration with minimal downtime. Targets financial services clients seeking to modernize legacy applications and data pipelines.
- Snowflake Integration Services Snowflake Select Partner consulting services including implementation planning, migration services, data architecture and pipeline design, proof of concept, ETL migration, performance optimization, and user training. Also supports the Snowflake Marketplace listing for MBS Loan Level Historical Data.
Quantifiable outcome
- 32% annual cost savings by consolidating from five vendors to RiskSpan's single platform
- +5 more outcomes
Companies that use RiskSpan
Customer profileNamed customers22 records
Segments7 records
Ideal customer profiles3 records
RiskSpan technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability7 records
Feature11 records
RiskSpan partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and supporting.
- LSEG (London Stock Exchange Group)coreRiskSpan collaborates with LSEG to deliver next-generation data and pricing solutions across structured finance and related asset classes. RiskSpan processes reference data workflows for more than 165,000 CUSIPs daily while LSEG delivers daily evaluated pricing for approximately 100,000 CUSIPs for structured products. The collaboration aims to enhance pricing scalability and consistency for complex asset classes including mortgage-backed securities and asset-backed securities. LSEG contributes world-class evaluated pricing, reference data strategy, and global market distribution.
- EquifaxcoreRiskSpan released credit and prepayment curves for auto and personal loans powered by anonymized loan-level performance data sourced from Equifax. This collaboration fills a critical gap in the consumer credit analytics market, providing standardized benchmarks for auto and personal loan performance that support benchmarking, stress testing, and scenario analysis for public ABS and private ABF portfolios.
- CoreLogiccoreRiskSpan's enhanced Non-QM Prepayment Model (Version 3.11) incorporates CoreLogic's loan-level non-QM performance data spanning October 2019 to March 2024. The collaboration enables a robust, segmented modeling approach with a unified turnover model and refinance model categorized by documentation type, improving prepayment forecasting accuracy for non-QM loans and mortgage-backed securities.
- SnowflakecoreRiskSpan is a Snowflake Select Service Partner, offering MBS Loan Level Historical Data on Snowflake Marketplace. Joint customers access RiskSpan's normalized and enriched loan-level data for Fannie Mae, Freddie Mac, and Ginnie Mae mortgage-backed securities via Snowflake's platform. RiskSpan provides sample code and calculations for common metrics (CPR, aging curves, S-curves). The partnership enables SQL querying, data joining with other sources, and scalable compute. RiskSpan also provides Snowflake integration consulting services.
- Verisk Extreme Event SolutionssupportingRiskSpan partnered with Verisk Extreme Event Solutions to deliver tailored climate analytics for the mortgage space. The partnership leverages Verisk's catastrophic event models (used to price risk today) for flood, storm, earthquake, and wildfire risk analysis. RiskSpan converts property loss simulations into a loan-level hazard risk scoring framework for mortgage portfolio climate risk management.
- IntexsupportingRiskSpan's Edge Platform integrates with Intex for cash flow modeling and valuation of structured products. The Intex integration enables precise bond valuation, loan-level bond cash flow forecasting, and access to the most complete deal coverage for private-label RMBS. Users can link loan and CDI files for new-issue deal analysis.
Scale indicators9 records
Recent moves6 records
RiskSpan competitors and assessment
Company assessmentDirect peers
- Intex: Intex is the de facto standard for cash-flow modeling and deal coverage of structured finance securities (RMBS, ABS, CMBS). RiskSpan explicitly integrates with Intex and competes head-to-head on loan-level RMBS, ABS, and CDO cash flow analytics.
- PolyPaths: PolyPaths provides fixed-income and multi-asset portfolio analytics, including mortgage and structured product risk, used by many of the same asset managers, hedge funds, and insurance firms. It is a direct peer in cross-asset and structured-finance risk analytics.
- Numerix: Numerix provides cross-asset pricing, valuation, and risk analytics for derivatives and structured products, with particular depth in fixed-income and structured finance. It competes with RiskSpan's Risk as a Service offering for cross-asset portfolio risk and analytics on structured instruments.
- FINCAD: FINCAD offers enterprise valuation and risk analytics for derivatives and fixed income, with strong adoption among corporate treasuries, asset managers, and banks. It directly competes with RiskSpan on cross-asset analytics, fixed-income valuation, and integration into enterprise risk workflows.
Broad incumbents
- MSCI: MSCI offers fixed-income, multi-asset class risk, and mortgage analytics as part of its broader risk and portfolio management suite, overlapping with RiskSpan's cross-asset risk-as-a-service and structured-product analytics. It is a broad incumbent targeting many of the same institutional buy-side and risk teams.
- Charles River Development (State Street): Charles River Development, part of State Street, provides an enterprise investment management platform with portfolio and risk analytics. It overlaps with RiskSpan's portfolio risk and cross-asset analytics for buy-side institutions, though as a broad incumbent rather than a specialized structured-finance player.
- ICE Mortgage Technology (formerly Black Knight): ICE Mortgage Technology is the dominant mortgage-software and data-platform incumbent, offering loan-level analytics, servicing, and capital-markets tools that overlap with RiskSpan's MSR, Agency MBS, and whole-loan modules. It is a broad incumbent serving many of the same mortgage REITs, servicers, and secondary-market participants.
- Moody's Analytics: Moody's Analytics offers structured finance, mortgage, and credit risk analytics plus data products, including CECL/credit-loss solutions that overlap with RiskSpan's credit-loss accounting and structured-finance modules. It is a broad incumbent serving banks, insurers, and asset managers.
- Bloomberg L.P. Bloomberg provides prepayment, valuation, and risk analytics for MBS and structured products on the Terminal and PORT, and is a default enterprise data provider for many of the same asset managers, dealers, and hedge funds that use RiskSpan. It competes as a broad incumbent bundling analytics into enterprise data agreements.
- S&P Global (Market Intelligence / TruSight): S&P Global provides structured finance data, evaluation services, and risk analytics — including mortgage, RMBS, and private credit content — that competes with RiskSpan's data, models, and analytics. It is a broad incumbent with significant data-licensing scale and global distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
RiskSpan social profiles
Digital presenceRiskSpan compliance and trust
Trust signalCompliance2 records
RiskSpan financial estimates
Financial estimateRevenue estimate
Valuation estimate
RiskSpan leadership team
Management profileNumber of profiles
Profiles15 records
RiskSpan subsidiaries and ownership
Company hierarchySubsidiaries1 record
RiskSpan funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RiskSpan M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RiskSpan
What does RiskSpan do?
RiskSpan sells the Edge Platform, a cloud-native analytics platform that integrates asset and market data with proprietary prepayment, credit, and valuation models for loans, mortgage servicing rights (MSRs), private asset-backed finance, and structured finance investments. The company also offers managed analytics services (Risk as a Service, Data as a Service, Climate Risk, Credit Loss Accounting) and consulting services (Data Solutions, Modeling Solutions, Cloud Solutions, Snowflake Integration) to asset managers, dealers, banks, mortgage REITs, insurance firms, and private credit funds.
Is RiskSpan a public or private company?
RiskSpan is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was RiskSpan founded?
RiskSpan was founded in 2009. It employs 101 to 250 people.
Where is RiskSpan based?
RiskSpan is headquartered in Arlington, United States, in the North America region.
How does RiskSpan make money?
Three revenue lines are on record. SaaS Platform Subscription (Usage-based) is the primary driver. The others are managed Services (Ongoing) and professional Services and Consulting.
Who are RiskSpan's main competitors?
Direct peers on record are Intex, PolyPaths, Numerix and FINCAD. Broad incumbents are MSCI, Charles River Development (State Street), ICE Mortgage Technology (formerly Black Knight), Moody's Analytics, Bloomberg L.P. and S&P Global (Market Intelligence / TruSight).
Does RiskSpan have an API?
Yes. Data accessible via Edge platform, direct API integration, or via Tableau. The platform supports automated API access for portfolio monitoring and cashflow analysis in private credit analytics.
What industry is RiskSpan in?
RiskSpan's product category is Structured Finance Analytics Software. Its primary akta.pro industry code is FSAPAJAF, Risk Scoring, Credit & Fraud Analytics (counterparty/wallet risk), with a secondary code of FSACAJAF, Prudential & Market Risk Management (VaR, Stress, Limits). Its NAICS code is 523940 and its SIC code is 6189.