Long term business benefits and profitability can be achieved by enhancing capabilities, such as: data integration, data quality and customer communications. These capabilities can help financial services organisations to meet the demands of compliance, such as Basel II, as well as delivering additional value across the enterprise.
How to Achieve Compliance and Risk Management Excellence:
- Data Management
Poor data quality together with disparate datasets can hinder the risk assessment of your capital reserves. By utilising advanced data analysis tools, you can quickly determine your amount of capital reserve. Data accuracy can be improved by housing the data in a central location for enrichment, analysis and visualisation.
- Customer Communications Audit
Your customer communications need to be monitored and audited. Compliance requires that all physical and digital communications are archived and available for retrieval by the regulators. You need to be able to access these documents quickly and efficiently.
- Risk Management
Understanding your risks underpins most activity that occurs within the industry. Being able to determine such factors as credit history, customer behaviours, demographics and market trends enables you to have greater insight and make better business decisions.