The Challenge
As one of the most highly regulated industries, banks and financial services organisations faces increasing pressure to engage in broad cost reduction programs, preserve Capital and boost profitability. While the financial industry is adapting to new regulatory frameworks (MiFID II, Basel IV, EBA, FSB, SRB FCA, PRA, NISD, GDPR), must spend substantial resources in business continuity, risk management, information security and complying with a never-ending list of requirements about regulatory and operational compliance. Because these laws and regulations are ever-changing, the need to implement this management changes takes valuable time away from focusing on the financial wellbeing of clients.
By implementing all your Risk Management needs onto an integrated and flexible platform, you can save resources, stay ahead of regulatory changes, manage risks and achieve resiliency effortlessly.
The Needs
- Assess cybersecurity & corporate vulnerabilities within organization and fintech third parties.
- Integrate new regulatory requirements.
- Comply with privacy rules on state and internationally.
- Identify weaknesses from interdependencies and internal controls and have a framework to mitigate them.
- Have a tested business continuity plan.
- Map progress on every step of remediation procedure.