Bank Enterprise Risk Management Solution
From Industry Solutions
Lack of automation in Enterprise Risk and Compliance Management Systems is causing financial professionals to work in compliance vs. working on compliance.
- Uncertainty in the markets and continuous overregulation in the financial sectors are continuing to damage customer perception and reduce shareholder value.
- Antiquated banking compliance tools are ineffective in today’s sea of regulations since they were only developed for rudimentary compliance workflows.
- The use of different tools across multiple departments increases cost, creates silos and mistrust in data which prevents risk and compliance executives to make intelligent and timely decisions.
- People tend to over comply or under comply. In both cases, it is costly since regulatory specialists don’t have a system or a tool that helps them understand regulations or standards in plain English.
- Keeping up to date with emerging new or updated regulatory information and then disseminating this to various global jurisdictions is difficult and, if not managed appropriately, can have limited effect, be overlooked, and cost time and resources.
360factors provides regulatory risk and compliance management software platform and advisory services such as risk management, internal audit, and information security solutions including regulatory guidance such as BSA/AML, Fair Lending, and CRA/HMDA through a simple yet effective regulatory risk and change management model and methodology.