Banking, Financial Services and Insurance (BFSI)

Regulatory reform, capital adequacy and consumer protection top the biggest risks of the BFSI sector today.  The history of 2009 is still top of mind for all BFSI executives.  Regulators will apply stricter enforcement of BASEL II and SOLVENCY II in the respective domains to ensure that the mistakes of the past do not manifest again. 

It is in this environment that BFSI companies face their greater challenges such as:

• Access to credit and capital
• Increased regulatory overhead
• Uncertainty over economic growth
• Management of underperforming assets
• Cost containment
• Consumer transparency
• Reputation management

It is in this environement that the risk and compliance officers need to operate effectively and efficiently.  The challenges posed lead the risk and compliance function to require solutions that will:

• Meet regulatory requirements within cost and time constraints
• Implement Operational Risk Management and Enterprise Risk Management solutions throughout the environment
• Obtain a single integrated view of risk and compliance across the organization
• Accurate and timely surveys from control self assessment to privacy, PCI and regulatory mandates
• Accurate modeling and management of external and internal loss events, cases, and whistle blowing programs 
• Aggregating and normalizing disparate risk and compliance information from various geographies and business units
• Implement strong Basel II and Solvency II programs utilizing best practices

Cura's Enterprise GRC Platform has been developed to assist customers achieve their strategic objectives and maintain advantage.  Cura's proven success include over 35 BFSI customers such as Federal Home Loan Banks (San Francisco and Office of Finance), Glencore, Montpellier Group, Standard Bank, FirstRand, Rand Merchant Bank, Old Mutual plc, Sanlam, Santam, Capitec bank, Imperial Bank, Lifeplan Funds Management, City Pacific, Bidvest Bank, and Development Bank of Southern Africa.

Cura solutions will assist your organization in:

• ERM Best Practice - Easy to use risk management information system that deals with identification, analysis, ongoing management and treatment of risks, RCSA's, full alignment with ISO 31000, Basel II, Solvency II and integration with internal and external systems.

• Advanced Reporting - covering reports and dashboards that range from local stakeholder related data right through to advanced aggregation, audit committee, risk committee and ultimately board reporting needs.

• Loss Events, Whistleblowing and Case Management - Capture of whistleblowing and complaints recording, case management features of Cura will assist in the achievement of a better governed organization through well documented investigations and audits.  Additionally whether just recording loss events internally or including external 3rd party events and analyzing these, Cura's system will assist you in deploying and end-to-end solution, complete with integration and advanced scenario analysis.

• Centralized Information Store - Full content and document management so that policy, process, risks and controls can be displayed in configured views based on the role of the user and in the context that the user needs to make effective decisions.

• Corporate-wide Surveys and Regulatory Compliance - Unlimited surveys across the organization and its external supply chain/providers that facilitate accurate self assessment, regulatory compliance management, audits, and provide first-pass response results and corrective actions to reduce non compliance and breaches.   

Related Information: 

• Data Sheets
• Case Studies
• White Papers

To find out more about Cura's capabilities in this sector, please contact us.