Quantivate has announced that its Enterprise Risk Management (ERM) software now gives banks and credit unions the ability to choose between risk-level assessments and category-level assessments. The update allows the company to better serve financial institutions at all stages of maturity.
“Quantivate continues to meet banks and credit unions where they’re at with our latest update to Quantivate Enterprise Risk Management,” said Quantivate CEO and Founder Andy Vanderhoff. “While category-level assessments are the standard in governance, risk and compliance software, risk-level assessments provide a greater level of granularity and precision and can be an ideal fit for smaller financial institutions. Customers now have more options that tie into their unique risk management programs.”
Quantivate Enterprise Risk Management is an integrated, web-based platform that provides financial institutions with tools to manage risk strategically, centralize processes and lower loss rates.
The update includes enhancements in three core ERM areas:
Risk assessment types – Banks and credit unions can ensure that their unique process can be configured within the software with the option to select category-level or risk-level risk assessments.
Risk and control taxonomy – Leveraging a new taxonomy built into the software, institutions can ensure they are able to categorize their risks and controls in a hierarchical structure.
Enterprise Risk Management and Business Continuity integration – Teams can reduce redundancy and increase efficiency with the latest integration updates between Quantivate Enterprise Risk Management and Quantivate Business Continuity.
Quantivate Enterprise Risk Management and Business Continuity sit within the company’s application suite of governance, risk, and compliance solutions. Banks and credit unions have the flexibility to start small and implement departmental solutions knowing that they can later expand or implement the full GRC Suite from the beginning.