HOW WE ARE USING TECH TO ANALYSE RISK CONTROLS, DUE DILIGENCE, AND RISK RATINGS

• As the regulator increases pressure on Organisations to ensure Risk controls are in place to mitigate controls such as cyber attacks or breaches in GDPR, Sanctions or AML, there is a paradigm shift in the approach to TPRM. Many organisations who still have pockets of manual processing around on-boarding, due diligence checks or IRR and RRR assessments are looking to Technology to support their business activities. But seeking new technology isn’t about just having the correct SaaS or PaaS services, but the right suppliers and tools supporting organisation’s with ensuring regulatory compliance, outsourcing and carrying out assessments. This all feeds into the competitive advantage an organisation can have over its competitors especially in the FinTech environment. This isn’t only important for banks to bank or FMI to FMI, but also includes the supply chain actors such as Apple and Google for example. Therefore, we shall look at how technology can support TPRM, but also the obstacles which decision makers need to overcome to ensure they have the right tools to support their TPRM environment.