About Risk Management in banks
Due to national and international regulations (e.g. the third and fourth EU directive), banks and financial institutions are obliged to create and continue risk analyses. Identification and evaluation of business risks is the first step and the basis of success for each of the derived measures to prevent potential damage.
To implement the statutory requirements, software can be employed to create the risk analysis in combination with existing research systems (e.g. for anti-money laundering and anti-fraud). This enables financial institutions to enrich their risk analysis with key figures, check the effectiveness of prevention measures, and continually refine risk evaluation and resulting measures.
There are a number of different solutions for risk management for banks:
Siron®RAS guarantees that all risks regarding money laundering, financing of terrorism and fraud can be categorized and assessed. Siron®RAS helps the compliance/AML officer to create, continually monitor and update the company-specific risk analysis.
Siron®RAS shows the centralized risk strategy or the bank and the link between the description of the measures and the implemented corresponding IT- research scenarios within the AML or anti-fraud system.
FICO®Origination Manager delivers the power to make more precise, value-based decisions at the origination stage, enabling you to grow more profitable portfolios while managing customer-level risk.
It is an application-to-decision solution that delivers a predictive analytic advantage to origination decisions. It helps lenders build more profitable portfolios and manage risk on a customer-level basis, while cost effectively adapting to rapid changes in the business and regulatory environments.