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Guide to Implement an Operational Resilience Program
We all operate in a world which is highly complex and unpredictable. In such times, being operationally resilient is the best step any organisation can take. Achieving operational resilience is fundamentally challenging for organisations given the increasing convolution of operational processes, technology systems, people diversity and others.
Business Process Observability
Business processes are interconnected and complex. Therefore, organizations will have to continuously monitor them to identify any performance issues before operations are impacted. With Business Process Observability solution, organisations can leverage the process level data to continuously monitor the health of the business processes to identify opportunities for improvement and automation, and also analyse the impact of such alternations.
Intelligent Operations in the Banking Industry
It would not be a misplaced statement to say that banks world over are under pressure to maintain a profitable bottom line. Stringent regulatory reporting and compliance requirements, a challenging market environment, and competition from fintech start-ups have squeezed profit margins for banks and have forced them to look inwards to improve operational efficiency.
Risk Management – Measure & Monitor
A firm should be prepared to manage all types of risks which has the potential to affect the critical services. It’s to be understood that the firm is bound to encounter number of risks and should leverage different risk management frameworks, as appropriate, to offer holistic and comprehensive support to the critical services.
Scenario Testing
Financial firms would be required to carry out regular scenario testing of their ability to remain within their impact tolerances for each of their critical business service. The primary objective of the testing is to better understand the systems and process and identify vulnerability that needs remediation. Additionally, the firms are required to prioritize and narrow their scenario testing appropriately to ensure an effective testing.
Impact Tolerance
Impact tolerance is defined as a firm’s tolerance for disruption to a particular business service. Setting impact tolerances for critical business services may help ensure that boards and senior management consider what the firm would do when a disruptive event occurs, rather than only trying to minimise the probability of disruption.
Mapping of Resources
The operationally resilient firm would be expected to have a comprehensive understanding and mapping of the resources and dependencies that support their business services.
Identifying Critical Business Service
Operational Resilience is about having a comprehensive understanding of the core, or critical services that an enterprise offers to its customers and that must continue to operate during a period of disruption.
Operational Resilience
Covid-19 pandemic have made financial institutions realize, the need to adopt an industry recognized operational resilience framework to be able to withstand the next disruption.
Audit Management
THE RISK CENTRAL AUDIT MANAGEMENT SOLUTION helps auditors to ensure control effectiveness, healthy operational practices, adherence to policies and procedures and manage audits efficiently and effectively in a systematic manner. The solution also helps auditors to measure and monitor audits, implement risk based internal audits, track audit recommendations, and other features.
Suryoday Small Finance Bank choose GIEOM’s Digital Validator for Video KYC
Suryoday Small Finance Bank is a new age bank that went live on January 23rd, 2017, with the endeavour to bring the best banking solutions to the ‘banked’, ‘under-banked’ and the ‘un-banked’ sections of the society.
Suryoday Small Finance Bank selected GIEOM’s Digital Blueprint for Policy & SOP Digitization, Learning Management and Change Management
Suryoday Small Finance Bank is a new age bank that went live on January 23rd, 2017, with the endeavour to bring the best banking solutions to the ‘banked’, ‘under-banked’ and the ‘un-banked’ sections of the society.
Video KYC (Assisted Onboarding)
With a lot of digital automation initiatives across the globe in various sectors, it is also important to strike a balance between technology and customer experience. There is a larger community out there who prefers to have a human touch point along with the technologies. Gieom Video KYC solution helps to onboard the customer remotely in a safe and secure environment by providing video assistance during the onboarding process.
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It would not be a misplaced statement to say that banks world over are under pressure to maintain a profitable bottom line. Stringent regulatory reporting and compliance requirements, a challenging market environment, and competition from fintech start-ups have squeezed profit margins for banks and have forced them to look inwards to improve operational efficiency.
Digital KYC (Self-Onboarding)
While the ‘Digital’ has become a new normal, especially in BFSI sector, it is extremely important for any organization to factor the new technology adoption with operational efficacy, ease in the implementation, and superior customer experience as part of their digital transformation initiatives.
Compliance Assurance
Organizations need the ability to manage various types of compliances across different policies and to overcome the lack of adherence to Regulations. Risk Central provides transparent, actionable regulatory compliance management process.
Incident Management
Organizations come across Incidents and Loss Events which have serious financial consequences even with all preventive measures in place. To track, assess and manage the loss events data is an essential part of risk management which in turn contributes to risk assessment and monitoring.
Operational Resilience
Enterprises have understood that disruption are not a one-off event but part of the business as usual. Things will go wrong, and enterprises are forced to plan on how to recover from the disruption. Enterprises are looking to be resilient to be able to protect and sustain their core business functions when experiencing operational stress and disruption.
Policy and SOP Management
With organizations moving towards digital transformation journey, embracing new hybrid work culture, new employees onboarding/change in roles and stringent compliance monitoring from the regulators, the SOPs & Policies need to be updated, actionable and automated to keep he users knowledgeable, compliant and vigilant on their day-to-day operations.
Virtual Branch
Humanize relationships in a Digital world through GIEOM’s Virtual Branch platform.
Policy and SOP Digitisation
With organizations moving towards a hybrid work culture and with heavy compliance requirements from the regulators, the policies and SOPs need to be amended accordingly and automated to keep the users compliant and vigilant in their day-to-day operations.
Academic Alliance Program
In the post pandemic world, while a handful of leading banks are steering ahead with their digital transformation, others are still struggling to create and execute a coherent transformation strategy. Banks are realizing their moments of truth as consumers around the globe expect their banks to interact like leading technology brands.
Operational Risk Management
Most Ops Risk, GRC and ERM systems are aging and they do not serve the needs of organisations today in a comprehensive and efficient manner. The Applications are not designed for ease of use and collaboration resulting in long training cycles and poor adoption.
A New Age Bank adopts streamlined Video KYC process with GIEOM Digital Validator
Being the only bank to get the “Small Finance Bank” license from RBI (Reserve Bank of India), they are striving towards providing the best in class ‘Customer Experience’ for their users. With more than a decade of banking experience they have served over a million customers since their inception.
Bahrain based Islamic retail bank goes live on AI-powered Online Identity Verification for Seamless Customer Onboarding
Right from the inception the bank understood the importance of customer experience and their objective was to allow their customers to open an account and transact in minutes. With the changing ecosystem of millennial and Gen Z customers, their affinity to technology and internet, the bank had to embark on channels that would entice the new.
South Indian Bank achieves complete SOP Digitization with GIEOM Digital Blueprint
South Indian Bank Limited (SIB) is a major private sector bank headquartered in Kerala, India. South Indian Bank has 857 branches, 4 service branches, 54 ext. counters and 20 Regional Offices spread across more than 27 states and 3 union territories in India.
Al Masraf Bank, Abu Dhabi embarks on a Journey of Core Banking Transformation with GIEOM
Arab Bank for Investment & Foreign Trade (Al Masraf) was established in November 1975 and started its banking operations according to the Federal Decree no. 50 issued and signed by His Highness Sheikh Zayed Bin Sultan Al Nahyan in 1976.
Synergy Credit Union, Canada chooses GIEOM for SOP Digitization, Learning Management and Change Management
Synergy credit union which is the fourth largest credit union in Saskatchewan, Canada with more than $1 billion in assets has chosen GIEOM for SOP Digitization, Learning management and change management.
GIEOM enables SME Bank, Malaysia on a path of Digital Transformation
SME Bank is one of the nation’s leading Development Financial Institution (DFI) wholly-owned by the Ministry of Finance and regulated by Bank Negara Malaysia (BNM). SME Bank is fully committed in driving the nation’s economic growth by providing not only financing assistance, but also development expertise to small and medium scale enterprises, allowing those businesses to prosper and grow.
Yes Bank Chooses GIEOM to Streamline its Processes
Get to know how Yes Bank, India’s fourth largest private sector bank uncovered the secret to its success by implementing a tool that can marry technology and staff competency and create a perfect recipe of operational excellence.
National Microfinance Bank, Tanzania undergoes Digital Change Management with the help of GIEOM
National Microfinance Bank Plc (NMB) is one of the largest commercial banks in Tanzania, providing banking services to individuals, small to medium sized corporate clients, as well as large businesses. It started initially as a payments and small finance bank and later became a fully- edged universal retail bank.
Mauritius Commercial Bank trusts GIEOM for its Risk & Compliance Management
Mauritius Commercial Bank, founded in 1838, is the oldest and largest banking institution of Mauritius. It is also the oldest banking institution south of the Sahara and one of the oldest banks of the Commonwealth to have preserved its original name.
GIEOM helps Mauritius Commercial Bank in Core Banking Transformation
Mauritius Commercial Bank, founded in 1838, is the oldest and largest banking institution of Mauritius. It is also the oldest banking institution south of the Sahara and one of the oldest banks of the Commonwealth to have preserved its original name.
Commercial Bank of Ethiopia achieves increased Operational Efficiency with GIEOM
As the bank embarked on an expansion path to grow the scale and size of its business from a regional/provincial bank into a leading national bank with country-wide operation it ran into the constraints of its antiquated technology and operations infrastructure.
SOP Digitization at IDFC Bank
IDFC Bank selected GIEOM to standardize their SOP’s and to ensure Regulatory Compliance and their Internal Policies are strictly adhered to. The bank had strict deadlines and the project was executed in two phases.
