The combined GRAC solution can be tailored to suit ever-changing needs of financial services organisations.
The combined GRAC solution can be tailored to suit ever-changing needs of financial services organisations.

Crisil partners with RiskBusiness to offer next-gen GRAC solutions

ANI | Updated: Aug 12, 2021 14:01 IST

Mumbai (Maharashtra) [India], August 12 (ANI): Crisil has allied with riskbusiness-services">RiskBusiness Services, the leading provider of governance, risk, audit and compliance SaaS (software-as-a-service) solutions, to offer an unmatched service plus value proposition for their financial services clients.

The partnership integrates Crisil's risk and compliance management playbook, Compass, with Graci, a fully integrated 360 degrees 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, including automation of controls and workflow automation, for banking and financial services organisations.

Across the globe, organisations are looking to leverage AI and analytics to develop integrated, smarter GRC solutions that can be implemented effectively in managing risks and addressing the shifting nature of the regulatory landscape.
The partnership seamlessly integrates Compass and Graci to empower organisations to navigate the dynamic risk environment, along with ever-evolving regulatory expectations across their diverse business functions, domains and geographies. It brings together domain-led content with digital enablers and advanced analytics.

Charu Madaan, Global Head of Non-Financial Risk at Crisil Global Research and Risk Solutions, said the potential of service plus 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 at RiskBusiness, said 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. (ANI)