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.

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Complete GRC

All the GRC tools you need integrated in one solution

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Basic to Enterprise

From simple risk assessment to complete risk register and control testing

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Speed & Execution

Insights into your risk program & control effectiveness

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Fast Implementation

The cloud-based solution can be integrated within days

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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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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 management and compliance in banking? ›

Compliance risk, which is often overlooked as it blends into operational risk and transaction processing, is the risk to earnings or capital arising from violations of, or non-conformance with, laws, rules & regulations, code of conduct, customer relationship rules or ethical standards.

What does the banks risk management and compliance Programme? ›

GUIDELINES RISK MANAGEMENT AND COMPLIANCE PROGRAMME

The RMCP addresses the following required aspects relating to Anti-Money Laundering, Combating the Financing of Terrorism and proliferation financing activities (AML/CFT/CPF) Risks.

Which software is used for bank management system? ›

The list includes Microsoft, FIS, Fiserv, SAP, Oracle, Temenos, SAS, and others. But we also can look at the list of top 10 banking software solutions and exact products. They feature different functions, from core banking to digital-only offers. You can explore these systems to find out if they suit your needs.

What is KPI for bank compliance? ›

Compliance Key Performance Indicators

Compliance KPIs quantify an FI's compliance risk so they can determine how much risk is acceptable to meet business goals and if they are falling within those thresholds. Every FI must decide if the compliance risk of an undertaking is worth the reward.

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.

How to mitigate compliance risk in banks? ›

Reducing operational risk: Effective KYC and AML measures help banks avoid involvement in illegal activities, preventing operational disruptions or legal issues. Mitigating legal/regulatory risk: Banks must comply with KYC and AML regulations to avoid legal penalties and reputational damage.

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

Compliance is concerned with ethical business practices and ensuring that the organization is doing what it is supposed to do, while risk management focuses on minimizing the potential impact of a crisis.

What is risk management framework in banking? ›

The Risk Management Framework (RMF) is designed to: Establish common principles and standards for the management and control of all risks. Guide behaviour across the organisation.

What are the examples of compliance in banking? ›

They include those dealing with the prevention of money laundering and terrorist financing, the conduct of business (including issues such as avoiding or mitigating conflicts of interest), privacy and data protection, and consumer credit (if a bank engages in consumer credit business).

What is the compliance framework in banking? ›

Banking regulatory compliance refers to the policies and procedures that financial institutions implement to adhere to financial industry standards of conduct. Standards are set by government agencies and other regulatory bodies to maintain the stability of national and global financial systems.

How do banks do risk management? ›

Banks assess the creditworthiness of borrowers and use various tools, such as credit scoring models, to manage and mitigate credit risk. Compliance and Regulatory Risk: Banks must comply with various laws and regulations. Non-compliance can result in financial penalties and reputational damage.

What software do most banks use? ›

Best Banking Software include:

SAP for Banking, Oracle FLEXCUBE, CGI Open Finance, Temenos Transact - Core Banking, Symphony™, Avaloq Banking Suite, Validis, TCS BaNCS, Q2ebanking and Mambu.

Do banks use CRM software? ›

CRM software gives banks and financial institutions a holistic view of their leads and customers, recording key details and activities across the buyer journey.

How much does banking software cost? ›

How much does banking systems software cost? Most banking solutions on the market are priced on a “per month” basis, and their monthly entry-level pricing plans range from $9 to $149+*.

What is the CIP program for banks? ›

The Customer Identification Program (CIP) is a necessary due diligence procedure that financial organizations must complete to fulfill their Know Your Customer (KYC) obligations. The CIP establishes the basic criteria for onboarding new customers.

What does a compliance manager do at a bank? ›

Maintain current copies of banking laws, regulations and interpretations. Disseminate information regarding new or amended regulations to appropriate personnel. Coordinate compliance training for Bank personnel. Establish, review, and monitor Bank's system of internal controls for ensuring Bank-wide compliance.

What is the compliance testing program for banks? ›

The Bank Compliance Check Up Program provides a comprehensive system and checklists for monitoring and determining the bank's compliance with deposit, lending, administrative regulations, and other banking laws. Also included are over 40 training agendas and quizzes!

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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