BCT Digital, a global Fintech company specializing in regulatory technology, has launched ‘rt360 Enterprise Risk Management (ERM)’, a product which uses a “Business First, Technology Next” approach to enable enterprises to identify and control risks arising out of their operations. Risks can arise from people, processes and systems including both internal and external sources.
Today’s enterprises have evolved into connected businesses, adopted to new technologies such as third-party cloud infrastructure and services, blockchain, IOT, AI/ML models etc. While this is much needed, the risks have become more complex. Hence, organizations have increasingly felt the need to integrate powerful risk management strategies to cater to their growth targets in an unhindered manner.
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The rt360-ERM product offers key functionalities like devising risk strategies, identifying risk sources leveraging multiple modes, assessing and mapping varied risks at LOB/org level, defining risk treatment plans and timelines. It also captures and monitors key risk indicators and provides proactive data insights and analytics. The ERM product is fully compliant with leading frameworks such as COSO and ISO, industry regulations, including the Basel guidelines. ERM product comes up with unique benefits in terms of providing a 360⁰ view of risks while breaking silos. Its strategic integration of risk management reduces cost of compliance, improves agility and decision making.
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“We are glad to launch our distinctive and crucial Enterprise Risk Management solution, as a part of rt360 product suite. Today’s constantly evolving risk landscape can adversely impact an organization’s strategic growth and competitive edge in the market. There is a growing need for organizations to view risks holistically and integrate proactive, high-impact risk management practices into their overarching growth and go-to-market strategies. We stay committed to devise effective solutions to enable enterprises manage critical risks and cater to regulatory needs, thereby improving operational performance” Jaya Vaidhyanathan, CEO, BCT Digital said.
The Enterprise Risk Management Solution is an addition to BCT Digital’s risk management product suite ‘rt360’ which also led the company to achieve distinctive recognitions. It recently ranked amongst Chartis Research’s top 100 RiskTech companies in its 2022 report. It was also named as ‘Category Leader’ in the RiskTech Quadrant for Model Risk Management solutions 2021.
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