Major Egyptian investment banking franchise streamlines GRC processes, secures 60% improvement in efficiency with rt360 Governance, Risk and Compliance

Enables 100% compliance with RBI and DFS mandates

About The Client

The client is a leading investment banking franchise in frontier and emerging markets. They offer investors the full spectrum of asset management, securities brokerage, private equity, and investment banking services, backed by top-ranked research. They also offer consumer finance, leasing, factoring, mortgage finance, payments, and microfinance services in select markets.
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Summary

The client, a leading universal bank in Egypt, wanted to have a GRC system in place to identify, assess, mitigate, and monitor their IT risks as well as a centralized system to manage their organization-wide policies. BCT Digital implemented its award-winning rt360 Governance, Risk and Compliance (rt360 GRC) product suite covering Policy Management, IT Risk Management, and Asset Management modules to cater to the client’s requirements.

The challenge:

  • Lack of defined asset inventory covering different types of assets
  • Absence of a robust system for tracking and managing assets
  • Version control issues, data integrity risks, and limited collaboration. Potential compromise of the accuracy and efficiency of risk management processes due to risk and control registers being maintained in spreadsheets
  • Lack of visibility in identifying potential vulnerabilities, threats, and areas of non-compliance
  • Lack of defined metrics in quantitatively assessing and measuring risks consistently, impeding effective risk mitigation strategies
  • Lack of a centralized system for creating and maintaining policies
  • Difficulty in managing policy revisions and updates manually
  • Multiple versions and managing version controls
  • Inefficiencies, increased risk of errors, and delays in decision-making due to the time-consuming nature of gathering and analysing data through manual tracking and reporting

Transformation:

The client worked together with BCT Digital on implementing the rt360 Governance, Risk and Compliance (rt360 GRC) product suite covering Policy Management, IT Risk Management, and Asset Management, along with the following business-critical activities:

  • Creating a comprehensive inventory of all IT assets and improving the discovery of assets across the organization
  • Central libraries for risks, controls, threats, vulnerabilities, and incidents to ensure consistency
  • Enabling a systematic approach to evaluating the likelihood and impact of risks
  • Facilitating the implementation of risk mitigation strategies and providing a structured framework for responding to identified risks
  • Enabling compliance with global regulations and standards
  • Automating tracking and reporting of compliance status
  • Improving visibility into the organization's risk landscape
  • Gathering and storing all organizational policies in a centralized repository
  • Improving accessibility and version control of policies
  • Streamlining the distribution of policies across the organization and facilitating effective communication of policy updates and changes
  • Managing revisions and updates to policies and documenting the history of policy changes for transparency

Results:

Today, the bank uses rt360 EWS to monitor credit exposures above INR 25 crores, which makes 70% of its loan portfolio. rt360 EWS has strengthened its ability to monitor accounts and ensure asset quality.

  • rt360 EWS enables 100% compliance with RBI and DFS mandates
  • Exceeds the expected regulatory coverage of INR 50+ crore exposure
  • 935+ corporate customers with a total exposure of INR 1.46 lakh crore are proactively monitored, along with 360-degree borrower profiling
  • Customized dashboard and reporting for senior management
  • End-to-end automation of data collection, alert generation and workflow configuration for faster decision-making
  • Tremendous savings by automating CRM forms processing

We highly value our partnership with BCT Digital, they have enhanced our ability to better serve our customers and offer competitive prices while at the same time significantly improving our profitability across product lines.

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Results:

Today, the bank uses rt360 EWS to monitor credit exposures above INR 25 crores, which makes 70% of its loan portfolio. rt360 EWS has strengthened its ability to monitor accounts and ensure asset quality.

  • ~60% improvement in operational efficiency
  • Increased visibility into the organization's IT risk landscape; better identification, and mitigation of potential risks
  • Comprehensive inventory and effective lifecycle management of IT assets and optimization of asset utilization
  • Improved regulatory compliance, enhancing organizational processes and practices to align with global standards and regulations
  • Optimized and streamlined procedures to expedite the identification, analysis, and mitigation of risks, enhancing organizational agility and responsiveness – leading to improvement in TAT for the risk assessment process
  • Centralized repository and easy accessibility of organizational policies and improved communication and understanding of policies across the organization
  • Streamlined policy management process and reduction in policy review cycle time by 25%

Awards & Recognition

risk management suite

rt360 is a risk management product suite to manage the entire risk portfolio of banks and financial institutions that includes credit risk, capital allocation, pricing risk, liquidity risk, model risk and operational risk.

rt360 is designed by bankers, risk practitioners and technology specialists with a Business First, Technology Next approach, empowering banks and financial institutions to focus on their credit growth and profitability while managing their risks. The product is fully designed and made in India to address the complexities of the financial sector globally. The suite comprises of five distinct products to manage each of the risk portfolio.

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