Banking Compliance & Risk Management Software (2024)

Sound and Effective Compliance and Risk Management for Banks

Streamline Your Bank’s Risk and Compliance Management with A.I. Powered Solutions

Banking Compliance & Risk Management Software (1)

ABA Endorsed Solution Provider for Risk and Compliance Management

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Bank Risk and Compliance Under One Platform

The Predict360 Risk and Compliance Intelligence platform brings all risk and compliance management activities under one platform, allowing banks to synchronize and streamline risk and compliance processes while eliminating redundancies. The integrated approach enables banks to predict risks, monitor compliance levels, and develop a responsive risk and compliance framework that delivers true business value for banks.

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Banking Compliance & Risk Management Software (31)

Industry Native Applications

Predict360 has been designed for the banking industry which enables it to deliver immediate benefits for banks. Experts from the banking and regulatory domains helped design the workflows and reporting features to ensure that bankers will be able to easily find all the tools and features they need to deliver enhanced risk and compliance performance. Our key relationships with American Bankers Association and other industry players allows us to deliver integrated services that help banks jumpstart their risk and compliance frameworks.

Banking Compliance & Risk Management Software (32)

Predict360 Bank Risk And Compliance Management Software is Modular And Customizable

The modular nature of Predict360 is one of its most important features for banks. Banks can choose the solutions they need to achieve their strategic objectives. It is possible to implement selected modules of Predict360 and then add other modules later on, ensuring that banks can expand the solution as needed instead of locking themselves into a limited solution that cannot support their growth plans. Predict360’s risk and compliance solutions can be implemented by themselves or they can be implemented as an integrated solution to enable enhanced predictions and monitoring.

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Banking Compliance & Risk Management Software (33)

Banking Services and Content

360factors has developed strategic partnerships with banking industry firms and service providers to deliver more value for our banking customers. Predict360 is the American Bankers Association endorsed solution for risk and compliance management. Customers can integrate risk libraries from ABA to enhance their risk management framework. Predict360 users can also integrate risk and compliance libraries from the banking community, risk and control libraries from Crowe, templates and advisory services from Temenos, and much more.

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Why Choose 360factors?

360factors empowers organizations to accelerate profitability, innovation, and productivity by predicting risks and streamlining compliance.

Banking Compliance & Risk Management Software (34)

Complete GRC

All the GRC tools you need integrated in one solution

Banking Compliance & Risk Management Software (35)

Basic to Enterprise

From simple risk assessment to complete risk register and control testing

Banking Compliance & Risk Management Software (36)

Speed & Execution

Insights into your risk program & control effectiveness

Banking Compliance & Risk Management Software (37)

Fast Implementation

The cloud-based solution can be integrated within days

Banking Compliance & Risk Management Software (38)

Flexible and Modular

Pick the modules you need for your business

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Easy to Use

Automation and an intuitive interface ensure ease of use

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Banking Compliance & Risk Management Software (40)

What Customers Say About 360factors

Learn How 360factors Empowers Customers to Manage Their Risk and Compliance Programs with Ease.

We look forward to working with 360factors to advance our enterprise risk and compliance programs for the bank while increasing the products and services we offer to the community.

Mark CaselChief Risk Officer Banking Compliance & Risk Management Software (41)

We selected Predict360 due to its ease of use, banking industry design, and endorsem*nt by the American Banker’s Association.

Eric SprinkPresident & CEO Banking Compliance & Risk Management Software (42)

Predict360’s banking workflows, risk library content, and endorsem*nt from the American Bankers Association are a great fit for our bank.

Julie DahleEVP and Chief Risk Officer Banking Compliance & Risk Management Software (43)

Predict360’s out-of-the-box applications designed specifically for banks our size along with their banking content was a significant influence in our selection of 360factors.

John DunneEVP Chief Risk Officer Banking Compliance & Risk Management Software (44)

As part of our initiative to expand our products and services, we wanted to enhance our enterprise risk and compliance management to support this growth. Predict360 will enable our team to meet these goals efficiently.

David ClaussenChief Risk Officer Banking Compliance & Risk Management Software (45)

360factors’ solutions, powered by artificial intelligence, enables our organization to adapt and respond effectively to the ever-changing regulatory compliance landscape.

Joanna ChancellorBusiness Support Manager Banking Compliance & Risk Management Software (46)

The powerful features combined with the easy implementation of the cloud solution made Predict360 a great fit for our organization.

Steve ParkerChief Executive Officer Banking Compliance & Risk Management Software (47)

We believe our collaboration with 360factors and the technology they bring supports our vision for the future.

Gina AnonuevoChief Compliance Officer Banking Compliance & Risk Management Software (48)

Deploying Predict360 is another step by us towards becoming a more streamlined and efficient organization.

Crystal BarnesRegulatory Compliance Specialist Banking Compliance & Risk Management Software (49)

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Banking Compliance & Risk Management Software (2024)

FAQs

What is the compliance management program for banks? ›

A bank's overall compliance management system (CMS) includes policies, procedures, processes, monitoring and testing programs, and a compliance audit function regarding compliance with all applicable laws and regulations.

What is risk and compliance management software? ›

A risk and compliance management system (CMS) is a framework that helps organisations to ensure that they are adhering to all relevant laws, regulations, and standards. It is typically overseen by a compliance officer or committee.

What is GRC system in banking? ›

Governance, risk management, and compliance (GRC) processes help keep sensitive data safe during banking and financial services transactions. With GRC, financial services organizations can safeguard stakeholder data from security and privacy risks. Read on to learn more about GRC in the banking industry.

What is risk management and compliance in banking? ›

What is Risk and Compliance in Banking? Compliance risk management in banks, especially in KYC and AML, involves policies and practices to minimize money laundering, and terrorist financing risks, ensuring regulatory compliance.

What are the 7 pillars of compliance? ›

The Seven Elements
  • Implementing written policies & procedures. All policies can be found in the Policy Library.
  • Governance & oversight. ...
  • Effective training & education.
  • Effective lines of communication. ...
  • Internal auditing & monitoring.
  • Enforcement & disciplinary guidelines.
  • Prompt response.

What are the 7 core requirements of a compliance program? ›

Seven Elements of an Effective Compliance Program
  • Implementing written policies and procedures. ...
  • Designating a compliance officer and compliance committee. ...
  • Conducting effective training and education. ...
  • Developing effective lines of communication. ...
  • Conducting internal monitoring and auditing.

What is the best risk management software? ›

To help you make the smartest choice in your search for the best risk management software, check out our top 15 options below:
  • LogicManager. ...
  • nTask. ...
  • CURA. ...
  • TimeCamp. ...
  • A1 Tracker. ...
  • Qualys. ...
  • ServiceNow. Heat maps and charts to prioritize risks in ServiceNow. ...
  • Riskonnect. Risk insights with charts, maps, and graphs in Riskonnect.

What software is used for risk management? ›

Best Risk Management Software Comparison Chart
ToolsPrice
Fusion Framework SystemPricing upon requestWebsite
CorporaterPricing upon requestWebsite
ProcessMAPPricing upon requestWebsite
TrackMyRisksFrom $37/monthWebsite
6 more rows
Nov 28, 2023

What is the difference between risk management and compliance management? ›

Compliance is a reactive measure, as organizations must often respond to changes in laws and regulations as they arise. Risk management, on the other hand, is a proactive measure that helps organizations prepare for and respond to potential risks before they occur.

Does GRC pay well? ›

Grc Analyst Salary. $55,000 is the 25th percentile. Salaries below this are outliers. $111,000 is the 75th percentile.

What is the difference between GRC and compliance? ›

There are three main components of GRC: ► Governance — Aligning processes and actions with the organization's business goals. ► Risk — Identifying and addressing all of the organization's risks. ► Compliance — Ensuring all activities meet legal and regulatory requirements.

Is GRC a good career? ›

In conclusion, a career in GRC within the cybersecurity field is not only challenging but also highly rewarding. With the increasing need for organizations to protect their assets and minimize risk, the demand for professionals with GRC expertise is rising.

What are the three stages of compliance risk management? ›

Compliance Risk Management in 3 Essential Steps
  • Step 1- Compliance risk identification.
  • Step 2- Implement a compliance risk assessment program.
  • Step 3- Compliance risks mitigation.

How do you manage risk and compliance? ›

How to Manage Compliance Risk?
  1. Always Start With a Risk Assessment. ...
  2. Managing Compliance Risk is All About Third Parties. ...
  3. Understand the Latest Enforcement Policies. ...
  4. Don't Forget to Build a Culture of Ethics and Compliance. ...
  5. Ensure People Feel Free to Speak Up. ...
  6. Continuously Monitor and Update Your Compliance Efforts.
Mar 14, 2019

What are the three components of compliance risk management? ›

The key components of managing compliance risk must include exposure, quantity or likelihood, and the quality risk to the company. An organization's broad compliance risk management must identify, prioritize, and assign accountability for managing potential legal and compliance threats.

What is a compliance management program? ›

A Compliance Management System (CMS) is a comprehensive program that encompasses the policies, procedures, practices, and processes an organization puts in place to meet legal, regulatory, and ethical standards. A well-structured CMS is crucial for managing and mitigating risks associated with non-compliance.

What are the 5 elements of compliance program? ›

They all touch upon a set of key issues that can be boiled down to five essential elements: leadership, risk assessment, standards and controls, training and communication, and oversight.

What is the role of a compliance manager in a bank? ›

Develop and perform compliance monitoring programs to meet compliance objectives, for all departments of the bank. This includes reviewing, evaluating and verifying the soundness, adequacy, and application of controls and procedures.

What is the purpose of the compliance program? ›

Compliance programs outline a set of guidelines and best practices that ensure a company's employees are following all relevant laws and regulations. Compliance programs help corporations protect their brand from scandal and lawsuits.

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