The recent Crisis has presented a number of challenges to financial institutions and prompted regulators to pay more attention to processes and transparency.
Operating at the forefront of Asset Management, Private Banking and Credit Risk Approval within major banks we identified the following challenges.
“Efficiency”
Acquisition, Data collection, Portfolio Monitoring, Risk Assessment, Pricing, Credit Approval, Documentation and Reporting must be optimized.
Information must be accessible within no more than 3 mouse clicks and properly related.
“Control”
Policy enforcement, entitlement, compliance and regulatory reporting need to be custom configured, automated and actively monitored without impacting efficiency, speed and cost.
“Speed”
Process Cycle times need to be minimized and stakeholders must be immediately alerted if delays occur in the process. Full transparency and monitoring of the process workflow is essential.
“Visibility”
Risk Managers, Private Bankers, Relationship Managers, Compliance Officers, and Executives must have real-time visibility on the approval workflow, Portfolio Exposure, Counterparty Exposure, Product Exposure, Business Unit Exposure or Regional Exposure.
“Cost”
The traditional high development and deployment costs of software applications followed by the high recurring operational cost for high Confidentiality, Integrity, Availability, and Scalability of applications are no longer feasible.
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