CustomerXPs: Exploring RaaS for Enterprise Financial Crime Risk Management in Financial Institutions
Posted: 23 March 2018 | Source: CustomerXPs
Managing risk is of utmost importance for Financial Institutions (FIs). Risk as a Service (RaaS) in financial services is cloud-based risk management solutions designed to help banks, credit unions, non-banking financial companies and fund management firms.
Unable to create and manage complete in-house solutions, quite a few financial services institutions today are using RaaS offerings, whether cloud solutions or for complete business process outsourcing. FIs are using RaaS on a subscription basis to handle their risk management, internal audit, change management and risk reporting.