Identify and Predict Risks to your Organization with Insight360

Insight360 incorporates internal and external data along with artificial intelligence (AI) technology to intelligently predict risks.

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Generate predictive risk insights

Generate predictive risk insights

Risk professionals need not only the latest risk data but also insights and predictive analytics that highlight upcoming areas of concern and give them the ability to preemptively get ahead of risks.

360factors’ new Risk Insight product, Insight360, incorporates internal and external data along with artificial intelligence technology to intelligently predict risks. These insights transform your risk management program into a competitive advantage by delivering information that your competition does not have and enabling you to increase profitability while accelerating innovation and new product introductions.

Insight360 can operate as an integrated module of 360factors’ Predict360 GRC platform or as a completely standalone product, augmenting any existing risk management or GRC platform already in place.

Identifying and predicting emerging risks is challenging

Identifying and predicting emerging risks is challenging

While managing risks and implementing controls to mitigate those risks are core functions for any bank, predicting emerging risks or identifying where risks are not operating within tolerance is often difficult to accomplish. Common challenges include:

  • Key Risk & Performance Indicators (KRIs/KPIs) can help predict risks that are operating out of tolerance, but risk managers often have difficulty obtaining this data from the business lines
  • While internal data and KRIs can indicate problem areas, linking those KRIs to the associated risks and identifying the risks operating outside of tolerance in real-time is hard to accomplish
  • External data, trends and news can indicate emerging areas of risk within the industry, but often are only evaluated by the bank during annual risk assessments or as part of a regulatory examination
  • Information is scattered across the organization in different files and reports, and requires significant manual effort and causes major delays in creating a dashboard/report that shows risks, their associated KRIs & KPIs and identifies which risks are operating outside of tolerate
Risk Insight

Benefits of Predictive Technology

Banks often manage risks assuming controls are operating properly and that risks are operating at a residual risk level set once a year during their risk assessment process. Identifying the actual current risk level and even predicting where risks levels may be if actions are not taken is much more challenging. However, there are solutions available to help manage risks more effectively and proactively:

  • Changes made to controls or business processes can quickly update their associated risks and help management and board of directors prioritize their focus to optimize their business operations and profitability
  • External news and trends in the market can indicate areas of concern that risk managers should examine further.
  • Provide out-of-the-box KRIs based on industry-specific external data (such as amount of changes or number of enforcement actions in a specific regulatory area) to automatically identify and flag risks within your organization that may not be consistent with those changes.
  • Capturing internal KRIs/KPIs in an automated fashion and automatically identifying and highlighting where risks may be operating out of tolerance in real-time.
  • Generate accurate and up-to-date risk reports with current risk levels quickly and easily, instead of providing static reports with outdated data to board of directors and management executives that take days to create each quarter.
Risk Insight

Achieve risk insights and predictive analytics with Insight360

  • An out of the box risk reporting solution using artificial intelligence technology to generate powerful predictive analytics and insights with an easy to use interface
  • Leverage the power of collecting internal and external data/KRs/KPIs and apply them to your risk analysis
  • Collect external data feeds such as regulatory intelligence data and calculates velocity changes and trending based on that data to predict areas of risk.
  • Monitor risk levels in real-time across the organization using built-in KRIs and KPIs
  • Insight360 provides real-time insights into predicting emerging risk and identifying risk that are not operating within your expected tolerance levels
  • Insight360 dramatically reduces the effort to create risk reports and actionable intelligence
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