Risk and control self-assessment (RCSA) is a crucial part of the compliance management process. While your team has period assessments in place, more organizations are realizing that opting for a platform that conducts automated and continuous monitoring is the best way to manage risk effectively.

In this blog we compare leading GRC software, Predict360 and LogicGate Risk Cloud to help you get a better understanding of how our technology competes with other platforms to meet the compliance demands of modern banking.

Compliance teams are choosing the best AI-driven platforms to conduct their risk and control self-assessments.

Comparative Overview

Read on to compare each GRC tool’s approach, RCSA technology, organizational philosophy and industry focus. This comparison allows your team to see how our technology may align with your organization’s strategic objectives.

Feature Predict360 LogicGate Risk Cloud
Primary Focus Banking and financial institutions General enterprise GRC across industries
AI Integration Kaia AI Companion integration for risk/control recommendations Spark AI suite (Autofill, Record Linking, Text Assistant)
Implementation Time Days to 90 days depending on the number of apps 30-150 days depending on complexity
RCSA Workflow Pre-built banking workflows with risk libraries Customizable no-code workflows
Risk Taxonomies Pre-loaded risk libraries Custom taxonomies
Control Testing Integrated control testing with DAP/OEP Automated evidence collection
Reporting & BI Embedded Microsoft Power BI Native dashboards with customizable visual reports
Real-Time Monitoring KRI engine with FRED/FFIEC data integration Real-time dashboards with automated alerts
Best Suited For Banks, credit unions, financial institutions Mid-market to enterprise across industries

Predict360 is best suited to your organization if you are:

  • A bank, credit union, or financial organization
  • Looking for rapid implementation with minimal configuration
  • Prioritizing affordability and straightforward pricing
  • Wanting AI-powered risk and control recommendations
  • Operating primarily within traditional banking risk management frameworks

Customer reviews from banking institutions highlight that the Predict360 platform provides:

  • a banking-specific design
  • ease of use
  • responsive user support

Other Aspects to Consider

When considering what the most important elements of a risk management platform are to your organization, it can be helpful to label your criteria in a hierarchy from most to least important.

For example, two key factors for financial institutions are the implementation time for new RCSA software (affecting larger organizations especially), and the implications of enterprise-level pricing on operations.

Implementation Time

When organizations need to conduct an RCSA using software for the first time or adapting to new software, rapid deployment becomes pivotal to success. Fast implementation means that time-to-value is also shorter, allowing your team to reap the benefits of more immediate risk visibility.

Predict360 has a more immediate deployment rate that typically taking days, not months to implement and scale across business units. On the other hand, LogicGate can take considerably longer, depending on the complexity required. While it is highly customizable, it requires more planning and configuration to align it with your risk profile.

Pricing Model

The pricing of Predict360 differs a fair amount from that of LogicGate’s Risk Cloud. While the latter provides different subscription tiers, it is a significant step up in price compared to alternatives. Predict360’s reviews reveal that most users find it to have low upfront and ongoing costs for both bigger and smaller financial institutions. Request a demo to learn more and gain a deeper insight into pricing and RCSA capabilities for your organization.

Predict360 vs. LogicGate Risk Cloud

If your team would like to know more about choosing the right platform for your organization, keep reading.

Which platform is better for banks and credit unions?

Predict360 is generally better for banks and credit unions because it is financial industry-focused and comes with pre-built banking risk libraries and workflows that improves their operations on a granular level.

Which tends to be more cost-effective for smaller institutions?

Predict360 is typically more affordable and attractive to small and mid-sized financial institutions, although it is also purpose-built for larger financial institutions. On the other hand, LogicGate’s Risk Cloud comes at a total annual cost that is usually higher.

Banking institutions seeking a purpose-built, rapidly deployable solution will likely favor Predict360. Our platform is known for its pre-built risk libraries, banking-focused workflows and industry-leading AI integration. Conducting your next RCSA can finally become an automated and streamlined process.