CRISIL, a Standard & Poor’s (S&P) global company, and provider of high-end risk, data analytics and research solutions, has partnered with RiskBusiness Services.
The partnership integrates CRISIL’s risk and compliance management playbook, Compass, with Graci, a fully integrated 360 vision governance, risk, audit and compliance (GRAC) solution by RiskBusiness.
Compass provides domain expertise for end-to-end management of governance, risk, compliance and regulatory change – from design to implementation.
It is leveraged by clients for strategising, designing and uplifting target operating models, creating fit-for-purpose policies, standards and guidance documents, implementation and transformation.
This includes automation of controls and workflow automation, for banking and financial services organisations.
Graci covers all aspects of governance, risk, audit and compliance (GRAC) across the non-financial risk spectrum of small, medium and large financial services firms.
The platform is accelerated by sophisticated high-end technology enablers such as artificial intelligence (AI) powered data collection applications and an intelligent digital assistant.
The combined GRAC solution is holistic yet modular and can be tailored to suit the ever-changing needs of financial services organisations, according to CRISIL.
Charu Madaan, global head of CRISIL’s non-financial Risk Practice, says: “We are pleased to launch this joint initiative where we are collaborating with an organisation that focuses on bringing together innovative technology that can cater to the ever-changing requirements of banking and financial services organisations across the world in the governance, risk, audit and compliance space.”
“The potential of our Service+ offering is designed to help businesses of all shapes and sizes in the banking and financial services industry keep pace with today’s rapidly changing regulatory environment.”
Mike Finlay, CEO and chief product architect, RiskBusiness, adds: “The combined products and services will provide firms with fully automated processes to stay on top of continuously changing regulatory demands, while at the same time providing a proactive 360-degree view of their businesses and exposure to risk.”
