Banking & Financial Services Industry
Ensure Operational Resilience, Drive Regulatory Compliance, and Mitigate Cyber Risk
Banking & Financial Services Industry
Measure Your Program Outcomes
- 67%
improvement in risk reporting visibility and efficiency for the executive management and board
- 90%
reduction in the time taken to manage compliance activities
- 80%
decrease in third-party onboarding time
Enable an Integrated Approach to Governance, Risk Management, and Compliance (GRC)
The banking and financial services sector is one of the most highly regulated industries. With the growing call for operational resilience, increasing cyber breaches, stringent regulatory landscape, complex vendor ecosystem, evolving and emerging risks, and growing focus on ESG, there is a greater need for transparency and new technology to meet these demands. MetricStream's products and solutions are designed to solve banking and financial services industry-specific GRC challenges. They support categorizing and classifying business lines and loss events based on Basel standards. They will equip you to better safeguard the well-being of your clients by enabling you to manage, embrace, and ultimately thrive on risk.
How MetricStream Software Solutions Help You
Seamlessly Integrate Risk Workflows
Strengthen operational resilience by providing a unified platform that integrates the workflows for effectively managing operational risk, cyber risk, compliance risk, third-party risk, and business continuity planning. Prepare for and prevent potential disruptions by easily identifying and analyzing critical operations, determining risk appetite, setting risk tolerances, performing scenario analysis and simulations, and more.
Streamline Regulatory Compliance Management Processes
Easily navigate the rapidly evolving regulatory landscape and strengthen compliance. Gain access to a wide array of international, federal, and state regulations, including those from OFAC, SEC, OCC, FINRA, FFIEC, CFPB, FRB, EBA, FCA, BOE, APRA, PRA, and others. Stay on top of regulatory changes and obligations by establishing well-defined compliance management workflows. Easily update and communicate policy changes to employees, manage case and incidents, regulatory exams, and more.
Effectively Manage Third-Party Risk
Proactively identify, manage, and mitigate the risks associated with a rapidly growing third-party ecosystem by providing an integrated, real-time view of the risks across the enterprise. With MetricStream Third-Party Risk Management, perform assessments, scoring, reporting, and risk mitigation across multiple risk domains including operational, data privacy, ethics & corporate compliance, IP, business continuity, cybersecurity, anti-bribery, and anti-corruption, financial, and others.
Gain an Enterprise-Wide View of Cyber Risk
Ensure the effectiveness of cyber security programs with enhanced visibility into the overall IT and cyber risk posture and cybersecurity investment priorities. Leverage built-in best practice frameworks and controls to get IT and cyber risk management programs up and running quickly. Easily adopt leverage industry best practices and advanced cyber risk quantification capabilities, while adhering to industry frameworks such as ISO 27001, NIST CSF, and NIST SP800-53.
Streamline Approach to Internal Audit
Centrally manage all audit projects, risks, and execute a risk-based approach to internal audit that ensures prioritization of audit tasks and resources based on risk criticality. With MetricStream Internal Audit, simplify audit planning, scheduling, and execution to improve auditor productivity and enable better collaboration across audit teams. AI capabilities and real-time access to audit data through intuitive graphical dashboards provide a comprehensive picture of audit across the business.
Implement an Integrated Approach to Risk Management
Gain deeper insights into risk and control data by identifying gaps, missing linkages, and redundancies through AI-powered data mapping. Rationalize controls with ML-driven cognitive insights that sense deficiencies and overlaps, ensuring greater efficiency and effectiveness. Automatically generate consistent and comprehensive risk and control descriptions to streamline documentation. Leverage AI-infused issue and action workflows that use semantic analytics to identify, flag, and recommend actions for issues. Access real-time audit insights with intelligent summarization and self-service reporting to drive faster, data-backed decisions. Manage internal risk events and losses in compliance with industry regulations like Basel Accords.
How MetricStream Benefits Your Business
- Strengthen operational resilience and risk preparedness across operations, compliance, cyber risk, and third parties
- Increase visibility into top organizational risks with real-time aggregated view of quantified risks and contextual information across processes and business objectives
- Agile and better-informed decision-making with real-time monitoring of compliance risks, assessment, controls, and compliance violations
- Prevent cyber attacks by identifying, managing and mitigating cyber risks across the enterprise
Related Resources
Frequently Asked Questions
Banking and financial services organizations face some of the most complex governance, risk, and compliance (GRC) challenges across any industry. These include navigating stringent regulatory requirements from bodies such as OFAC, SEC, OCC, FINRA, FFIEC, CFPB, FRB, EBA, FCA, BOE, APRA, and PRA, while simultaneously managing escalating cyber threats, growing third-party ecosystems, and increasing expectations around ESG performance and operational resilience.
MetricStream supports operational resilience by providing a unified platform that integrates workflows for managing operational risk, cyber risk, compliance risk, third-party risk, and business continuity planning. Financial institutions can identify and analyze critical operations, determine risk appetite, set risk tolerances, and run scenario analysis and simulations, helping them prepare for and prevent potential disruptions before they affect service delivery or regulatory standing.
MetricStream provides access to a broad library of international, federal, and state regulations relevant to financial services, enabling organizations to track regulatory changes, establish compliance management workflows, update and communicate policy changes, and manage regulatory exams and case incidents. The solution helps compliance teams spend less time on manual tracking and more time responding strategically to evolving obligations from regulators such as the FCA, SEC, EBA, and APRA.
AI capabilities in MetricStream's banking and financial services solution automate and streamline several high-effort tasks. These include AI-powered data mapping that identifies gaps, missing linkages, and redundancies in risk and control data; AI-driven cognitive insights that flag control deficiencies and overlaps; semantic analytics that identify and recommend actions for issues; and intelligent summarization for real-time audit insights. Together, these capabilities enable faster, data-backed decisions across risk, audit, and compliance functions.
MetricStream's Third-Party Risk Management solution provides financial institutions with an integrated, real-time view of risks across their vendor and supplier ecosystem. Organizations can perform assessments, scoring, reporting, and risk mitigation across multiple risk domains, including operational risk, data privacy, cybersecurity, anti-bribery and anti-corruption, financial risk, and business continuity. This approach enables proactive identification and mitigation of third-party and fourth-party risks throughout the full supplier lifecycle.
MetricStream's Cyber GRC solution helps financial institutions gain enterprise-wide visibility into IT and cyber risk posture, prioritize cybersecurity investments, and adopt industry best-practice frameworks, including ISO 27001, NIST CSF, and NIST SP800-53. The solution enables advanced cyber risk quantification, expressing risk exposure in monetary terms, so security and risk teams can make cost-effective decisions about which risks to accept, mitigate, or transfer.
MetricStream's Internal Audit solution helps banking organizations centrally manage all audit projects and execute a risk-based approach that prioritizes audit tasks and resources based on risk criticality. Audit planning, scheduling, and execution are streamlined through intuitive dashboards, real-time data access, and AI capabilities that manage audit issues. The result is improved auditor productivity, better collaboration across audit teams, and a clearer picture of audit posture across the business.
According to MetricStream customer responses and the GRC Journey Business Value Calculator, banking and financial services organizations using MetricStream have achieved a 67% improvement in risk reporting visibility and efficiency for executive management and the board, a 90% reduction in the time taken to manage compliance activities, and an 80% decrease in third-party onboarding time. These outcomes reflect the platform's impact on reducing manual effort, accelerating risk decisions, and improving governance maturity.
MetricStream's Operational Risk Management solution supports Basel Accord requirements by enabling organizations to manage internal risk events and losses in compliance with industry regulations. The platform supports categorizing and classifying business lines and loss events based on Basel standards, and provides AI-infused issue and action workflows that use semantic analytics to identify, flag, and recommend actions for operational risk issues, helping banks meet both quantitative and qualitative Basel expectations.
MetricStream's GRC platform is designed for the full spectrum of banking and financial services organizations, including retail and commercial banks, investment management firms, capital markets institutions, insurance-linked financial groups, and financial holding companies operating across multiple geographies. Organizations such as Standard Chartered Bank and LSEG (London Stock Exchange Group) have implemented MetricStream solutions to strengthen risk management, compliance, and operational resilience at an enterprise scale.
