IBM OpenPages GRC Services | GRC Consulting – iTechGRC
IBM OpenPages GRC Services | GRC Consulting – iTechGRC
Founded more than two decades ago in New York, the client is a leading bank and part of a multinational group. It has 2,500+ branches in 15+ countries, with 700+ branches in six cities in the United States of America. It has more than 200 million customer accounts and employs more than 240,000 people all across the globe.
The client was looking for a solution to reimagine the role of A.I. and natural language processing in an auditor’s workflow. They were looking to scale control testing using more extensive data sets than before to uncover hidden trends and insights. The client wanted to identify anomalies within business monitoring and effectively plan and scope audits using new findings.
Introducing any innovation is challenging for the client since it has one of the world’s most significant corporate audit departments.
Reservations in switching to a new platform: Because of its size and importance, switching from the current audit platform to a new one required careful consideration and great trust in a technology partner.
All-in-one unified platform: Another challenge was achieving all the requirements within a unified platform that empowered auditors with more excellent detection capabilities, deep data-driven insights, and enhanced stakeholder engagement and collaboration.
AI-enablement: The new audit platform should have advanced A.I. and analytics features, be easy to use, and be the best in the industry to get all the necessary approval to make the switch and gain the confidence of the required stakeholders.
The solution was implemented in three phases, leveraging a broad range of available IBM Data and A.I. solutions, including IBM Open Pages with Watson and IBM Cloud Pak for Data.
Tools for analyzing control definitions: In the first phase, auditors were empowered with tools to analyze control definitions and scored them based on various parameters.
Training on Watson Discovery: In the second phase, auditors were trained to use Watson Discovery to save time processing thousands of monthly transcripts between agents and customers.
Utilizing IBM Watson Assistant: In the third phase, IBM Watson Assistant was used to help the auditors identify relevant content within hundreds of audit manuals.
With the help of IBM OpenPages, the client was able to integrate people, processes, and platforms, saving hundreds of thousands of billable hours.
Continuous innovation: The solution enables the client to keep innovating using Watson on their new auditing platform.
Confidence to switch to a new platform: The IBM OpenPages has helped the client to convince relevant stakeholders to switch to the new audit platform by landing various short-burst proofs-of-concept.
A solution beyond audit transformation: It became the solution of choice not only for audit transformation but also for AI-based innovations.
Our GRC experts implement a bespoke strategy to effectively manage and monitor your third-party risks.
With the help of our efficient methodology and deep knowledge of IRM best practices, we help you get a rapid return on your project and software investment.
Agile, Waterfall, or a combination of both - we discuss your requirements and suggest the best methodology for implementation.
We work with your development team to make real-time adjustments to the OpenPages in your development environment by doing a gap analysis.
With the help of instructor-led 8-hours long training courses, we guide your implementation team through the OpenPages configurations.