VComply Editorial Team

What is Risk Quantification – Fundamentals and Techniques

No business is risk-proof, and financial services are no exception. While you cannot make your business completely risk-proof, you can take measures to mitigate the risk and safeguard your business. Risk assessment and analysis are the first steps in understanding your risks and their impact on your business. Once you know this, you can take appropriate measures to mitigate the risks.
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Key Risk Indicators: Understanding and Developing KRIs

In the modern-day market and workplace, risk is a part and parcel of business operations. Considering the shift to remote working, threats and potential vulnerabilities are ever present, which is why risk management is now a top priority. As a matter of fact, in 2021, General Data Protection Regulation fines rose by around 40%. Big names like the Marriott and British Airways incurred fines of $23.8 million and $26 million, respectively, for data breaches. This is the cost of poor risk assessment and management controls in today’s economic climate. Thankfully, auditors and risk management teams can get ahead of such problem areas with clearly defined key risk indicators (KRIs).
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Fintech Compliance and Risk Management Software Solutions

Fintech compliance software is indispensable for financial institutions looking to maintain a competitive edge. It not only streamlines regulatory processes and reduces risks but also plays a vital role in safeguarding reputation and enhancing customer trust. Armed with this knowledge, let's explore the compliance strategies that are currently reshaping the fintech landscape.
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