GRC Technology Leader Partners with International Aid & Development Charity Headquartered in the UK
AUSTIN, TX | November 14, 2018 – 360factors, Inc., a leading cloud-based Enterprise Risk and Compliance Management platform technology company powered by artificial intelligence, has been selected by UK based International NGO Islamic Relief Worldwide (IRW). 360factors will implement and configure five modules being offered on their flagship solutions platform, Predict360. These include risk management, compliance management, document management, audit management and regulatory change management.
360factors is working closely with IRW’s microfinance team which currently uses a manual and fragmented process to support their global team covering up to 14 countries across six continents.
“Islamic Relief Worldwide chose 360factors’ Predict360’s Governance Risk and Compliance solution for the ease of use and broad Risk and Compliance functionality enabling the microfinance team to have effective central oversight and support capability to remotely manage its group wide compliance and risk environment” says Rahal Ahmed, Global Microfinance Manager at IRW. “With the development of new financial products and technological innovations the microfinance industry continues to observe a growing regulatory focus given the risks are often similar to that of the mainstream banking. As an early adopter of a GRC management solution like 360factors, we hope that the success of its software application will not only strengthen our internal compliance and risk management arrangements, giving us more data at our fingertips, but encourage others in the industry to consider smart innovative solutions in a world where regulatory technology is helping address internal vulnerabilities in a more efficient and practical approach.”
Based in Austin, 360factors Inc., has been developing and implementing compliance and risk management software solutions using artificial intelligence since 2012 and has provided solutions to companies and organizations world-wide.
“We welcome the opportunity to provide Islamic Relief Worldwide with a single solution that takes their current complexities and creates a solution for management and executives to have visibility into all their compliance and risk programs in real time” says Carl McCauley, Chief Executive Officer at 360factors. “Our solutions are ideal for banks and other financial services companies, including microfinance organizations like Islamic Relief Worldwide.”
About 360factors
360factors empowers organizations to accelerate productivity, innovation and profitability by predicting risks and streamlining compliance. Predict360, its flagship software product, is a Risk and Compliance Intelligence Platform augmented with Artificial Intelligence technology to predict and mitigate operational risks while streamlining regulatory compliance. Predict360 integrates regulations and obligations, compliance management, risks and controls, audits and assessments, policies and procedures, and training in a single cloud-based SaaS platform based on artificial intelligence to provide predictive analytics and unique insights for predicting risks and streamlining compliance. 360factors is the exclusive endorsed solution provider for compliance management by the American Bankers Association (ABA). Visit www.360factors.com for more information.
About Islamic Relief Worldwide (IRW)
IRW is an international aid and development charity, which aims to alleviate the suffering of the world’s poorest people. It is an independent Non-Governmental Organization (NGO) founded in the UK in 1984. As well as responding to disasters and emergencies, Islamic Relief promotes sustainable economic and social development by working with local communities – regardless of race, religion or gender. At the international level, (IRW) has consultative status with the UN Economic and Social Council and is a signatory to the International Red Cross and Red Crescent Code of Conduct. The Islamic Microfinance Business Unit manages IRW’s microfinance operations in over 12 countries, where it provides technical support and oversight to its institutions and programs delivering financial services and products including credit, savings, remittance, insurance and digital finance it helps poor people in the informal (non-bankable) economy engage in productive activities and ultimately become self-sufficient.
360factors often makes waves because of its innovative solutions that pioneer the use of technology and AI to improve compliance, risk management, regulatory change management, risk insights, and much more. Click to read more about us and our partnerships with innovative Regtech and Fintech companies.
