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Since the 2008 financial crisis, private banks have been confronted with a growing flow of regulatory requirements relating to customer identification, the fight against money laundering, the fight against the financing of terrorism, prevention of corruption, compliance with tax compliance, etc. In other words, regulators require banking institutions an ever-deeper knowledge of their customers (KYC). 

These compliance requirements impose a higher and higher cost on banks, not only because of the

Enterprise Risk Management is a major part of risk management framework which organizes, plans, controls and leads the functions of an organization in order to reduces the possible risks that may affect the organization. Many organizations claim that they find ERM easy and implements it in the easiest way but it’s not the actual story. It requires a rare combination of organizational hierarchy and strong executive management. The most explicit concerns that generally a company faces are normally

Most people do not understand why organizations need dedicated erm software solutions to manage enterprise risk, but that is only because most people do not understand how vital enterprise risk management can be. Managing risks is simple in our personal lives and for small businesses, because only a few risks need to be worried about. There is no need to quantify and assess these risks, because it is easy to keep track of them all due to their low quantity and small size. However, when we start

Almost every business in the country is bound by regulations. There are regulations that govern the way a business can treat its employees, the way it can operate in its environment, and so on. Different industries have varying amounts of regulation. There are industries where regulation is minimal, and businesses are generally not worried about regulatory bodies breathing down their neck. Then there are industries where everything is governed by regulations – where there are so many regulations

Compliance management system has become one of the most important and fundamental concern for all the organization specifically in financial institutions. With the help of compliance management tracking software, companies are able to track, save and identify data, risk, threat and fraud. This system ensures that the whole organization is synced with each other and having updates regarding all the happenings and information of the company where they are also able to respond with their best possi

GRC refers to Governance, Risk and Compliance which means to ensure that proper policies and controls are implemented in your organization for the monitoring of risk and to setup a system for check and balance if new risk arises. While incorporating GRC with technology, it helps in implementing proper control, compliance management system, documentation and also helps in meeting the objective of an organization. It just not helps in mitigating risk but also to evaluate it and providing best poss

Cyber security is one of the top needs that any business can have in today’s world of digitalization where everything is going online. Companies are maintaining their system with such hi-tech cyber security that it is hard to breach. Since it’s an online world and paperless environment, so cyber security is being prime concern that if anyone who attacks the system he can get into whole of the company’s information.

According to recent research report by World Economic Forum, "90 percent of compan

Risk management is no longer a new term in a world of business. Though it has emerged over a past few decades, but it is something that every company and business is implementing nowadays for a more efficient results and for more business security. Managing risk is essential for all kinds of business. The difference is just that small businesses have quite a few limited resources to gauge their risk while on the other hand, large businesses can easily identify and calculate risks that can harm t

Compliance management is a process which ensures that the employees in an organization are following the set of rules that are given to them and there’s no breach in it. It ensures that the policies and procedures are being followed in accordance to their setup. Here rules mean compliance strategies and benchmark, while process means what manages their compliance system.

Compliance management is mixture of functions like policy, procedure, documentation, internal auditing, third part audits, secu