Financial Services Industry - Risk and Compliance

Risk and Compliance

Financial services organizations strive to offer better services that please customers and add value. However, at the same time, they must balance regulatory compliance, ensuring that neither side of the equation falls by the wayside. Regulatory requirements can vary drastically across the regions in which a business operates, and are constantly in flux, prompting new efforts to remain compliant. This involves managing risk, establishing a culture of compliance, and consistently monitoring and improving internal and external compliance efforts by applying the latest technologies the industry has to offer.

How We Help

Prolifics works with financial services enterprises to support new business initiatives, including…

Risk and Compliance Case Study

Case Study

Smarter Process Success in Preventing Banking Fraud

Prolifics helped a major commercial bank holding organization update its anti-money laundering tool with a cutting-edge solution.

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Prolifics' Capabilities

Operational Risk Management>> 

Organizations need deep insight into operational risk. While they often already have measures in place to manage that risk...

Organizations need deep insight into operational risk. While they often already have measures in place to manage that risk, these can lack the effectiveness necessary to answer rising business complexity and meet increasing compliance requirements. With customer expectations, industry competition, regulatory needs, and technological capability on the upswing, you need to ensure your operational risk management is present-perfect and future-proof.

Prolifics leverages leading technologies in risk management, including in-depth analytics that harvest rules, model decisions and processes, develop analytic reports. and produce Cognitive-powered insights.

Governance and Management of IT and Data >> 

Data is a key business asset, and is a critical part of effective risk and compliance initiatives...

Data is a key business asset, and is a critical part of effective risk and compliance initiatives. Enterprises must improve their data governance and management standards in order to be able to find, move, trust their information and, in turn, derive maximum benefit from the parts of the business that leverage it.

Prolifics can help both by introducing a tried and tested data governance framework and by implementing new technologies to put you in control of the management of your data. We introduce solutions for metadata management, data lineage, data quality and cleansing, business glossary management, and data analytics.

Internal and External Audit Compliance >> 

Preparing for regulatory audit must be top-of-mind for financial businesses...

Preparing for regulatory audit must be top-of-mind for financial businesses. Readiness arises from strict controls and policies, thorough documentation and prediction of reputation risk and business outcomes, internal policy distribution and response, and review, assessment, and remediation initiatives. Changes to regulations and the way they are enforced can lead to drastic changes to your business’s readiness policies, creating new needs surrounding technologies, staff, and processes.

Prolifics assists enterprises in managing and controlling their compliance measures. With powerful analytics technologies and strategies that encompass rules harvesting, decision and predictive modeling, in-depth reporting, and Cognitive capabilities, our experts enable your organization to gain a better grasp of your compliance status and how to improve your regulatory stance.

Vendor Management Policy Compliance >> 

Negotiating the minefield of vendor compliance (or non-compliance) can be a difficult and costly proposition...

Negotiating the minefield of vendor compliance (or non-compliance) can be a difficult and costly proposition. Relationships with vendors often include the management of sensitive data. Partnership contracts must be reviewed and assessed for regulatory solidity. When vendor compliance is at the forefront of the organization’s vendor acquisition strategy—alongside with the intent to leverage the best-fit technologies to help ensure ongoing vendor compliance–enterprises can maintain regulatory standards throughout their supply chain.

Prolifics enables businesses to refine the way they do business with vendors to better guarantee compliance between all parties. Our experts help rethink and redesign critical business processes and rules to better align them for regulatory excellence. We help you apply cutting-edge analytics, secured API management and blockchain features to gain deeper insight into supply chains, end-to-end vendor processes, and relationships, helping pinpoint areas of need and identify ways to excel.

Regulatory Requirements Compliance >> 

With regulatory requirements constantly shifting and evolving, businesses can fall victim...

With regulatory requirements constantly shifting and evolving, businesses can fall victim to exhaustion when it comes to keeping up. This exhaustion can be mitigated by leveraging technology to speed and streamline the adjustment process. These regulatory technologies tackle key regulatory processes, including anti-money laundering and know your customer measures, liquidity risk, capital adequacy stress tests, scenario analyses, prudential standards management, and data and privacy protection.

Prolifics’ consultation, solutions, and accelerators are tailored toward easing the regulatory compliance process without diminishing the results. We pair data governance and management (in the form of data cleansing, lineage, and integration) with analytics (with predictive modeling, risk aggregation, and Cognitive insight) to help you gain an accurate understanding of your business functions and see how your compliance stance can improve.

Risk Data Aggregation Transformation>>

With BCBS 239 risk data aggregation and reporting becoming a key part of the compliance process...

With BCBS 239 risk data aggregation and reporting becoming a key part of the compliance process, managing risk is growing to be more important and more complex than ever. An organization-wide transformation based around risk management makes risk an enterprise-wide responsibility. Making this change opens the way to apply new technologies to risk management processes, which in turn enables proactive and informed risk management throughout daily business operations.

Prolifics brings the expertise and the technology you need to get started with risk data aggregation transformation and see the process through to success. An effective transformation requires the optimization of existing infrastructure and platforms by moving to the cloud, as well as integrating data throughout the business and leveraging advanced analytics for planning, performance, and risk modeling.

Technology Makes it Possible

Prolifics' expertise across multiple specialties enables us to create unique, comprehensive solutions for your innovative risk and compliance. Technologies we typically leverage for these types of initiatives include:

Prolifics' expertise across multiple specialties enables us to create unique, comprehensive solutions for your innovative cost optimization. Technologies we typically leverage for these types of initiatives include: