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Bangladesh Digital Banking Operational Risk Reporting, Auditing, and Risk Management Success with SysRisk

Bangladesh and digital banking

Bangladesh is rapidly embracing digital banking, with more and more people using online and mobile banking services to manage their finances. This growth has been driven by a number of factors, including the increasing availability of smartphones and internet access, as well as the convenience and security of digital banking platforms.

Bangladesh Digital Banking Operational Risk Reporting, Auditing, and Risk Management Success with SysRisk

Digital banking risk

For a digital-only banking environment, risk identification, reporting, management, and resolution also need to happen digitally. This is to ensure that there is a low overhead cost for risk management and reporting while the banks can also maintain full compliance and transparency. The growth of digital banking has also introduced new operational risks. These risks can include:

  • Process inefficiency and error
  • IT system failures or cyber-attacks
  • Human errors
  • Fraud, corruption, or embezzlement
These risks can have a significant impact on digital banks, leading to financial losses, reputational damage, loss of customer funds, and regulatory penalties.

SysRisk and banking risk resolution

SysRisk is a comprehensive SAAS Risk Management Platform that can help digital banks in Bangladesh identify, assess, and manage operational risks. SysRisk provides a number of features that can be used to improve digital banking risk reporting, auditing, and management, including:

  • Modules: SysRisk includes a number of modules that are specifically designed to address digital banking operational risks, such as the IT Risk Module, the Fraud Risk Module, and the Operational Risk Module. These modules provide digital banks with the tools they need to identify, assess, and mitigate operational risks.
  • Analyze: SysRisk includes a number of advanced analytical tools that can be used to analyze digital banking operational risk data. These tools can help digital banks identify trends, patterns, and correlations in their risk data, which can then be used to improve risk management.
  • Resolve: SysRisk provides digital banks with a number of tools to help them resolve operational risk incidents. These tools include incident management workflows, risk registers, and action plans.
  • Visualize: SysRisk provides digital banks with a number of visualization tools that can be used to create dashboards and reports on digital banking operational risks. These tools can help digital banks to communicate their risk management posture to internal and external stakeholders.
  • Artificial Intelligence: SysRisk uses artificial intelligence to help digital banks to identify and assess operational risks. This can help digital banks to reduce the risk of human error and improve the efficiency of their risk management processes.

SysRisk for better digital banking ecosystem

SysRisk can help the digital banking system in Bangladesh in a number of ways, including:

  • Improved risk reporting: SysRisk can help digital banks in Bangladesh improve their risk reporting by providing them with a centralized repository for all of their risk data. This can help digital banks to generate more accurate and timely risk reports.
  • Enhanced risk auditing: SysRisk can help digital banks in Bangladesh enhance their risk auditing capabilities by providing them with a number of automated audit tools. This can help digital banks to identify and address risk management weaknesses more quickly and efficiently.
  • Effective risk management: SysRisk can help digital banks in Bangladesh implement more effective risk management practices by providing them with a comprehensive set of risk management tools and resources. This can help digital banks to reduce their exposure to operational risks and improve the stability of their operations.

Overall, SysRisk is a valuable tool for digital banks in Bangladesh that can help them improve their risk reporting, auditing, and management. By using SysRisk, digital banks in Bangladesh can reduce their exposure to operational risks and improve the stability of their operations.

To learn more about SysRisk platform please goto our Bangladesh Event for Digital Banking Risk Management on the 29th of November, 2023 events page or goto this link:

(The link will take you to the events registration page) Digital Banking Risk Management in Bangladesh (Zoom Meeting Registration)

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