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Importance of Compliance in BFSI industry

Banking, Financial Services and Insurance companies today are burden with managing risks and complying with strict regulations. Specific challenges include:

[ - ] Access to credit and capital

[ - ] Increased regulatory overhead

[ - ] Uncertainty over economic growth

[ - ] Management of under-performing assets

[ - ] Cost containment

[ - ] Consumer transparency

[ - ] Reputation management

It is in this environment that the Chief Risk Officers (CRO) and Chief Compliance Officers(CCO) need to operate effectively and efficiently. Specifically, the risk and compliance functions require solutions that:

[ - ] Provide a complete and accurate enterprise view into risk

[ - ] Ensure compliance with myriad regulations across multiple geographies within cost and time constraints

[ - ] Contain internal fraud

[ - ] Link risks to root causes, events, hazards and other elements of governance, risk and compliance

[ - ] Manage project risk and govern investments

[ - ] Create a single, integrated view of risk and compliance across the organization

Rede's ServiceNow Governance, Risk and Compliance (GRC) Management solutions help's banking, financial services and insurance organizations make their risk and compliance initiatives more effective and efficient. Contact us for more details at