BCT Digital, an industry-leading provider of FinTech, RegTech and SustainTech solutions, has recently advanced its position in Chartis Research’s RiskTech100 2024 report, moving up by 6 places. This achievement, marking the company’s third consecutive year on the list, highlights their proficiency in areas such as credit risk management, Enterprise Governance, Risk and Compliance (EGRC) and Environmental, Social and Governance (ESG). The recognition by Chartis in the Chartis RiskTech100 2024 – globally acknowledged as the most comprehensive independent study of the world’s major risk and compliance tech players – is a resounding endorsement of BCT Digital’s commitment to excellence in these crucial industry segments.
Pioneering enterprise and banking risk management through emerging technology
BCT Digital has long stood out in the realm of credit risk management with its innovative rt360 Credit Risk suite designed to enable sound credit risk practices and credit monitoring in banks and financial institutions. These tools not only assist in managing credit risk but also enhance overall banking analytics, offering deeper insights and foresight in the banking sector. Origination, risk-based pricing, credit and fraud monitoring, stress testing, and collection management system enable lenders to manage their entire credit lifecycle in one place, providing tighter control over their asset book.
rt360 Credit Risk suite is powered by AI/ML algorithms, data analytics, configurable workflows, and extensive reporting and dashboarding tools. The comprehensive suite empowers lenders to manage risks and efficiencies across the loan lifecycle, stay competitive and achieve sustainable growth.BCT Digital’s prowess also extends into developing a comprehensive GRC framework for enterprises both large and small. Its approach to enterprise governance, risk and compliance seamlessly integrates with organizations’ enterprise risk management and compliance strategies, ensuring a holistic approach to governance, risk and compliance management. The rt360 GRC suite is not just a set of tools but a strategic framework enabling organizations to manage risks proactively and comply with evolving regulations. Simultaneously, the rt360 Enterprise Risk Management (ERM) product is revolutionizing the way organizations manage risks – tailored to address the complex challenges in today’s regulatory landscape.
Central to BCT Digital’s innovative portfolio is its commitment to SustainTech solutions, proven by the state-of-the-art Environmental, Social, and Governance (ESG) offering as part of its market-leading rt360 Governance, Risk and Compliance (GRC) product suite. A relatively recent offering, rt360 ESG empowers organizations to align with global ESG frameworks and standards, enhancing environmental governance and societal impact. So, while BCT Digital’s main focus has been on strengthening its Governance, Risk and Compliance (GRC) suite of products to meet current regulatory requirements, its SustainTech business has increasingly focused on Environmental, Social, and Governance (ESG). The rt360 ESG suite helps organizations streamline their sustainability efforts from start to finish.
More products are in the offing, with focus on ESG & climate risk management, third party risk management and so on.
Emerging technologies: A unique value proposition
AI/ML algorithms can process and analyze vast datasets far more efficiently than traditional methods. This ability allows for the extraction of deep insights and detection of complex patterns, often imperceptible through manual analysis. In the context of financial services, this translates into more accurate and nuanced credit scoring, risk assessment, and fraud detection. By leveraging AI/ML, financial institutions can make more informed decisions, reducing risks and enhancing the overall quality of their services.
Furthermore, these technologies excel in predictive analytics, a critical aspect in finance. AI/ML can predict trends and potential defaulters with a higher degree of accuracy, enabling proactive risk management. This forward-looking approach is vital in mitigating risks before they materialize, leading to a more stable financial environment. By adopting these technologies, BCT Digital enhances performance and provides a competitive edge in the rapidly evolving financial sector.
Chartis Recognition: A testament to long-standing excellence
As BCT Digital reflects on a triumphant year and looks ahead to future innovations, the recognition from Chartis stands as a testament to its continuous dedication to the realms of credit risk management and associated arenas. Being ranked among the top 100 RiskTech companies by Chartis Research in its recently published RiskTech100 2024 report and advancing 6 places since the previous year, BCT Digital has set new benchmarks in the industry, elevating the standards of technological solutions in risk management.
BCT Digital’s ranking in Chartis’ RiskTech100 2024 report is not merely a recognition but a celebration of their relentless pursuit of excellence in the fields of GRC, ESG, and Credit Risk Management. As it forges ahead, BCT Digital remains committed to delivering groundbreaking solutions in the financial technology space, continually shaping the future of enterprise risk management and sustainable business practices.
