With the financial industry’s most robust set of risk and compliance solutions, FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, consulting and outsourcing solutions, continues to provide companies innovative and robust solutions to mitigate risks across their organizations.
In response to increasing regulatory demands to enhance enterprise risk management and regulatory compliance, FIS offers Early Risk Manager to financial institutions. Early Risk Manager is a turnkey, secure, cloud-based, next generation solution specifically tailored for financial institutions with a risk dashboard, pre-populated library of risks, risk scenarios, controls, risk assessment templates, metrics, key risk indicators (KRIs), key performance indicators (KPIs), issue management tools, compliance monitoring and testing, third party risk management and more.
“Effective risk management is the ability to identify and mitigate risks before they become material and negatively impact earnings, capital or reputation,” said Sai Huda, senior vice president and general manager, Enterprise Governance, Risk & Compliance (EGRC) Solutions, FIS. “We are delighted to add to the value proposition FIS presents to financial institutions by helping them manage risks proactively with this turnkey solution.”
Early Risk Manager contains a robust risk dashboard for the board of directors, senior executives, line-management, risk management and compliance; a library of over 450 KRIs and KPIs; and more than 1,800 compliance monitoring and testing checklists, covering all regulations and easily importing data from core processing and other systems to transform information into actionable risk intelligence. It also can be quickly configured to fit the needs of any financial services company and can be securely accessed anywhere, anytime via the cloud.Early Risk Manager provides a more effective and efficient method to manage risks across an enterprise, ensure regulatory compliance, and meet regulatory demands and enhanced scrutiny. This makes it a natural fit for FIS’ large client-base of financial institutions as well as the industry at large.