BCT Digital adds Compliance Management to its rt360-GRC product suite
Simplifying credit monitoring for the BFSI sector to control the rising number of NPAs and financial frauds
11th May 2022: BCT Digital, a global Fintech company specializing in regulatory technology, has launched ‘rt360 Compliance Management’, which enables organizations to automate their compliance processes, helping them in achieving better compliance at a lower cost. By automating the overall process, it conducts continuous monitoring thereby proactively detecting any compliance violations to protect the company from considerable reputational damage and high financial penalties.
It operates on five key elements. Firstly, it enables organizations to maintain a comprehensive library of regulations with regards to Compliance Management, wherein authorized users can add new regulation requirements such as external regulations or internal policies and map them at a process, department, or organization level. Secondly, it allows initiation of Compliance programs on a planned or on ad-hoc basis allowing to create and perform standardized compliance programs. It enables the company to foresee and prevent potential risks early and improve collaboration across verticals to provide critical real-time insights into compliance processes.
Further, the rt360 GRC solution comes up with a Compliance Register which serves as a centralized process repository for creating and managing internal policies and external regulations. Mapping of risk, controls, and other parameters for compliance can be performed through the application. It also helps in conducting periodic assessment and monitoring of organization’s compliance requirements to check the effectiveness of each control. The solution, further, offers reporting solution enabling persona-based reports and a comprehensive Compliance Dashboard to get data insights and monitor adherence.
The application provides an integrated and holistic view of tracking compliance, risks and audits related to compliance through seamless integration with in-house systems and external third-party systems.
Jaya Vaidhyanathan, CEO, BCT Digital said,
“We are delighted to add a crucial Compliance Management solution to our rt360 GRC product suite, which reduces risk of compliance violations, penalties and reputational damage. Driving compliance proactively is a significant challenge faced by many organizations due to the ever-changing regulatory landscape. Organizations need to constantly monitor the adherence to both outside regulatory and legal requirements as well as internal policies and bylaws. We are certain that the distinctive features of rt360 Compliance Management will help companies in achieving better compliance at a lower cost.”
The rt360 Compliance Management is a new addition to BCT Digital’s rt360 Governance, Risk and Compliance (GRC) product suite, which has 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.
About BCT Digital
BCT Digital is an award-winning global digital transformation company delivering disruptive Fintech, RegTech, and Cleantech solutions to large organisations across diverse industry verticals. The company empowers industries to predict, manage and mitigate risks and make effective risk-resilient decisions leveraging next-gen technologies and sophisticated AI/ML models, data-driven algorithms, and predictive analytics. Ranked among the top 100 global companies by Chartis Research, BCT Digital helps banks, financial institutions, large enterprises, and public organisations optimize core processes and niche digital services, to maximize growth and profitability.
BCT Digital is a group company of CMMI L5-certified Bahwan CyberTek (BCT) Group, a global provider of digital transformation solutions in the areas of predictive analytics, digital experience, digital supply chain management and financial risk management in 20+ countries across the Middle East, North America, Far East, Africa, and Asia. The Group drives innovation through outcome-based business models and powerful IP solutions, delivering digital solutions to BFSI, Oil & Gas, Telecom, Power, Government, Retail and SCM / Logistics verticals.
Contact:
Chandrakumar Natarajan
BCT Digital
nchandru@bahwancybertek.com
For queries reach out
bctdigital@bahwancybertek.com
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