Cognitive Integrated Risk Management

Mid-market companies, especially in the financial services, banking and insurance industries, face monumental financial and resource challenges in managing Governance, Risk, Compliance and

Auditing. But with the industry moving faster than ever before, even traditional costly GRC and Audit solutions are quickly becoming outdated to satisfy regulatory requirements. In order to survive, companies must not only find smart, cost-efficient solutions to meet current needs, but also be able to prepare for the future.

Issues they face today could be as follows:

• Constantly changing regulatory landscape but lack of resources to comply
• Costs of non-compliance are too great to take a passive approach
• Regulatory and Audit guidelines require hours of work for reviews.

Our solution delivers robust Cognitive Integrated Risk Management capabilities (CIRM) to the mid-market by helping them assess and predict risk in real-time—rather than waiting for a catastrophic event when it is likely too late. Powered by IBM Watson and other cognitive computing technologies, Aponia uses machine learning and natural language processing to automate and centralize risk management and audit engagements across the entire organization—using automation to put repeatable processes in place to identify and anticipate potential business risks, dynamically calculating the cost of failure and staying current with changing compliance requirements to effectively manage governing documents. Using Aponia’s CIRM with Watson improves decision making and performance through an integrated view of how well an organization manages its unique set of risks.

Outcome:

By enabling a Watson-based Cognitive Integrated Risk Management application, automation can be achieved alongside a much more natural language and machine learning experience for clients. With the power of this Cognitive Integrated Risk Management solution powered by Watson. CIRM can read and analyze contracts, leases, governing documents and policies based on industry standards, regulatory and accounting requirements in less than 2 minutes. Thereby reducing the effort of a compliance officer, auditor, attorney or risk manager. A process that without Watson can take from 4-6 man hours.

We have combined cognitive computing, deep domain expertise, and big data to handle the client’s governance, risk, and compliance and audit needs. Here are the Benefits with Aponia’s based solution.

Reduce Risk Impact

Reduce the probability of failed audits, fines and breaches by maintaining an accurate history of who did what and when in a central dashboard.

Predict Risk Impact

Take advantage of big data and cognitive computing technology to assess risks and potential costs before making critical business decisions.

Automate Risk Management, Legal Review and Audits

Streamline workflows across the organization and keep on top of your compliance with a risk assessment score updated in real-time.