Mumbai, India, and London, England, August 10, 2021 -- CRISIL, an S&P Global company, and the world's largest and top-ranked provider of high-end risk, data analytics and research solutions, has allied with RiskBusiness Services Limited, the leading provider of governance, risk, audit and compliance SaaS (Software-as-a-Service) solutions, to offer an unmatched “service + value” proposition for their financial services clients.

The partnership integrates CRISIL’s leading-edge risk and compliance management playbook, Compass, with Graci, a fully integrated 360° vision governance, risk, audit and compliance (GRAC) solution by RiskBusiness.

Compass provides domain expertise for end-to-end management of governance, risk, compliance and regulatory change – from design to implementation. It is leveraged by clients for strategising, designing and uplifting target operating models, creating fit-for-purpose policies, standards and guidance documents, implementation and transformation, including automation of controls and workflow automation, for banking and financial services organisations.

Graci covers all aspects of governance, risk, audit and compliance (GRAC) across the non-financial risk spectrum of small, medium and large financial services firms, supported by industry award winning content, such as taxonomies, KRIs and scenarios, enabled through augmented machine learning models, data collection and classification applications. The platform is accelerated by sophisticated high-end technology enablers such as artificial intelligence (AI) powered data collection applications (crawlies) and an intelligent digital assistant.

The combined GRAC solution is holistic yet modular and can be tailored to suit the ever-changing needs of financial services organisations.

Across the globe, organisations are looking to leverage AI and analytics to develop integrated, smarter GRC solutions that can be implemented effectively in managing risks and addressing the shifting nature of the regulatory landscape. This partnership seamlessly integrates Compass and Graci to empower organisations to navigate the dynamic risk environment, along with ever-evolving regulatory expectations across their diverse business functions, domains and geographies. It brings together domain-led content with digital enablers and advanced analytics.

Charu Madaan, Global Head of Non-Financial Risk, CRISIL Global Research & Risk Solutions, says “We are pleased to launch this joint initiative where we are collaborating with an organisation that focuses on bringing together innovative technology that can cater to the ever-changing requirements of banking and financial services organisations across the world in the governance, risk, audit and compliance space. The potential of our Service+ offering is designed to help businesses of all shapes and sizes in the banking and financial services industry keep pace with today’s rapidly changing regulatory environment.”

Mike Finlay, CEO and Chief Product Architect, RiskBusiness, adds “We are delighted to announce our partnership with CRISIL. Their non-financial risk domain experience and risk, compliance, regulatory change and obligation management playbook Compass, augmented by our Graci GRAC solution and services, will provide the financial services industry with a world-leading and proven one-stop shop in the non-financial risk business space. The combined products and services will provide firms with fully automated processes to stay on top of continuously changing regulatory demands, while at the same time providing a proactive 360-degree view of their businesses and exposure to risk.”

For more details on CRISIL Global Research and Risk Solutions, visit: https://www.crisil.com/en/home/our-businesses/global-research-and-risk-solutions.html

For more details on RiskBusiness visit: https://www.riskbusiness.com/