Process Mapping – The What, Why and How?

Process Mapping – The What, Why and How?

What is Process Mapping? Let us break down the words. Process means “a series of actions you do for a particular purpose that produce an outcome”. Mapping means “creating a picture or diagram that represents something (a process)”. Process Example – If You want to make 1 cup of Tea so, here is the process […]

The Role of Process Mapping in Change Management

The Role of Process Mapping in Change Management

Change is constant in the fast-paced world of business. Companies must frequently adjust operations to respond to market developments, technology advancements, or internal reorganisation. Process mapping is an invaluable tool in change management. Here are some of the many instances in which process mapping can help change management and employee adaptation to new processes. VISUAL […]

Overview of the Australian Operational Resilience Regulatory Guidelines

Overview of the Australian Operational Resilience Regulatory Guidelines

The objective of this Prudential Standard CPS 230 is to establish and uphold operational resilience for APRA (Australian Prudential Regulation Authority) regulated entities. Such entities are required to proficiently mitigate operational risks, ensure the continuity of critical operations during disruptions, and effectively address risks associated with service providers. This Prudential Standard is applicable to all […]

How Financial Institutions can benefit from Incident Management Solution?

How Financial Institutions can benefit from Incident Management Solution?

Financial institutions, such as banks, insurance companies, and investment firms, face various challenges in their daily operations. They have to deal with complex regulations, high customer expectations, cybersecurity threats, and competitive pressures. In such a dynamic and demanding environment, incidents are inevitable. Incidents are unplanned events that disrupt the normal functioning of a system or […]

Policy Management Solutions: Your Key to DORA Compliance

Building Resilience: The Crucial Role of Policy Management Solutions in Compliance with the Digital Operational Resilience Act(DORA)

A policy management solution is of utmost importance from a Digital Operational Resilience Act (DORA) regulation perspective. The DORA regulation aims to ensure the operational resilience of digital services providers, including financial institutions and other critical entities, in the face of cyber threats and other disruptions. Implementing a comprehensive policy management solution is crucial for […]

How to Choose the Right SOP Digitization Solution?

SOP Digitization Solution

Standard operating procedures (SOPs) are essential for any business that wants to ensure quality, consistency and compliance in its processes. However, managing SOPs can be challenging, especially if organisations are still following paper, word or PDF format. Paper-based SOPs are prone to errors, loss, damage and outdated information. They also make it difficult to track […]

Why is it Important for the Financial Institution to Digitize its Standard Operating Procedure?

Why is it Important for the Financial Institution to Digitize its Standard Operating Procedure?

The financial sector is undergoing a rapid transformation due to the emergence of new technologies, changing customer expectations, and increasing regulatory demands. In this context, it is essential for the financial institution to digitize their standard operating procedure (SOP) to enhance their efficiency, agility, and compliance. A SOP is a set of written instructions that […]

6 Simple Steps for Implementing an Operational Resilience Framework

6 Simple Steps for Implementing an Operational Resilience Framework

On March 29, 2021, the Bank of England (BoE), Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) jointly issued policy and supervisory statements to enhance the UK financial system’s resilience against operational disruptions. Operational resilience necessitates firms embracing the notion that disruptions are inevitable. The underlying assumption is that business disruptions and failures will […]

Digital Operational Resilience Act (DORA) – A Brief Overview

Digital Operational Resilience Act (DORA) – A Brief Overview

The use of information and technology is essential in the modern era as it supports complex systems used for daily activities. It plays a critical role in keeping our economies running, especially in key sectors such as finance, and improves the functioning of the internal market. However, as digitalization and connectivity continue to increase, so […]