Banking Industry

Risk & Compliance Software For Banking Institutions

ViClarity Banking Industry

Over the last decade and since the global financial crisis the banking industry has seen an unprecedented surge in regulatory requirements, This increase has forced a greater focus on the way organisations manage their risk and compliance activities. Many organisations are using manual based processes such as Excel Spreadsheets to manage risk and compliance, which proves time consuming, difficult to manage and high in resource levels.

ViClarity's Risk & Compliance solutions for the banking industry automates the collection and collation of risk & compliance data. The solution comes with a full and constantly updated risk and control library mapped directly back to areas highlighted by the regulators. ViClarity have a large database of regulatory templates available but best of all, the solution can take any internal spreadsheets used by banks and build them into an automated system. This leads to reduced cost, increased transparency & accountability while providing higher efficiency across the whole organisation.

Enterprise Risk Management

The ERM solution enables organisations to automate the collection of Risk Data, KRI's and Risk Controls, allowing for ease of reporting across jurisdictions, departments and business units.

Incident & Financial Event Registers

Automate the logging and analysis of Incidents, Complaints and Financial Events using ViClarity's templates.  Detailed root cause reports and filtered reports can be generated quickly and easily. 

Compliance Management

Track and manage all of your compliance obligations to multiple regulators in one centralized solution.

Survey Tool

ViClarity's new survey tool has many uses including a cultural diagnostic tool and staff/employee feedback tool. Easily gather survey data and see results instantly.

Vendor Management

Manage vendor due diligence, contracts and reviews in one place eliminating duplicate spreadsheets and minimising the manual effort involved in collating vendor data.

Policy Management & Staff Signoff

Upload, edit & manage policies on ViClarity's policy management solution. Allow staff to review and sign-off on new policies in one central solution.

Enterprise Risk Management

From assessing individual risks to monitoring key risk indicators (KRI's) and controls, ViClarity brings all of your ERM information together. ViClarity automates your processes to enable officers to spend less time chasing information and more time analyzing the performance of the risk and compliance controls in your organization.

Enterprise Risk Management Solution Features:

  • Risk & Control Library – Choose from ViClarity’s large range of sample risks and controls which are updated on an ongoing basis.
  • Report – Provide your stakeholders with the latest information on your organizations top risks. Our system has interactive dashboards and heatmaps so you can review and drive business decisions.
  • Automated Risk Data Collection & Collation – Risk owners input there risk & control data and this information is available for management to view and report on organization wide.

Compliance Management

The ViClarity solution comes with pre-populated templates to enable Banks to identify, assess, manage and report on regulatory compliance obligations from regulatory bodies such as The Central Bank Of Ireland and The Financial Conduct Authority (FCA). View compliance in real-time on ViClarity's colour coded live dashboard which allows you to track trends and movement over time.

Compliance Solution Features

  • Regulatory Templates – Choose from our large suite of regulatory templates which cover regulations from all over the world. These templates can be modified to suit each individual organisation.
  • Real Time Compliance – Analyse compliance in real time on ViClarity’s live dashboards allowing for real time identification of non-compliance. Trackable actions can be assigned and managed through the system.
  • Satisfy The Regulators – Prove compliance to regulators and present compliance reports to the board with one click, highly configurable reports and dashboards.

Vendor Management

Third-party risk is a hot topic for regulators. When an organisation outsources an activity to an outside vendor it can introduce new and/or increased risk to the organisation. Vendor Management is all about identifying, assessing, measuring, monitoring and controlling those risks.

ViClarity's Vendor Management solution enables you to have all your vendor due diligence, contracts and reviews in one central place eliminating duplicate spreadsheets and minimising the manual effort involved in collating a vendor's information.

Vendor Management Solution Features

  • Automated Vendor Tasks – Spend less time reviewing answers vendors fill in on spreadsheets by automating the process on ViClarity. The system will flag areas of concern saving you time trying to find them on spreadsheets.
  • Higher Compliance – Ensure higher compliance rates by mapping vendor controls and assessments to regulations and internal policies.
  • Vendor Classification – Identify your most critical vendors and their associated risks through our intuitive and third party risk assessments.

Incidents & Financial Events Register

The tracking of Incidents, Complaints and Financial Events is often a manual process which is passed from person to person within an organisation causing a delay in the remediation of the incident. This process leads to a disjointed reporting process and a very slow incident management process.

ViClarity's end to end Incident, Complaints and Financial Events Register tracks all details from the logging of the event all the way through to corrective actions and remediation. The automated nature of the system allows for a smooth path all the way through with the relevant employees/departments notified when action is due.

Incidents/Complaints/Financial Event Features

  • Log and Notify - When incidents are logged under a category, the relevant employees/departments can be automatically notified by the system and they can carry out their part of the process quickly and easily
  • Analyse and Resolve – The solution allows you to identify and track incidents so you can analyse them in full and assign actions to resolve any issues.
  • Ongoing Prevention – Identify any recurring issues and create and monitor mitigation controls against causes on an ongoing basis.

Survey Tool

With the culture of compliance becoming a particular focus for the Central Bank and the wide acceptance that culture can influence organisational performance our survey tool will put organisations in a position to measure their internal culture. It will also allow any internal staff surveys or customer surveys to be conducted anonymously

Survey Tool Features

  • Live Performance Metrics - Survey results are displayed in real time as soon as completed and reports can be produced quickly and easily.
  • Instant Resoultion - The tool allows you to quickly identify areas of concern and assign corrective actions. Ongoing negative patient experiences can be avoided in the long run.
  • Issue Identification - Real-time view of performance across all areas and early identification of under performance.

Policy Management & Staff Sign Off

The ViClarity solution incorporates a full document management section which allows managers to upload documents & policies to the system and present them back to end users. Policies can be edited and uploaded through the system and it has a full version control ensuring everyone is aware of the latest version of the policy.

Using this module, management can ensure staff are presented with the correct version of the document at all times. Staff can sign off that they have read and understand the policy and test questions can be set up to evidence that the user has read the new policy.

Policy Management Solution Features

  • Document Storage - Store an unlimited number of files and versions of policies on the ViClarity platform.
  • Policy Sign Off - Send out email notifications to the relevant staff members to remind them to review new policies. Get live analysis of who has or hasn't reviewed policies.
  • Multi User Access Levels - Pick and choose which employees can review policies by department, job role, location etc.

Selected Financial Clients

Find out what ViClarity can do for your organisation