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In recent years, the banking industry has experienced substantial transformations and advancements, emerging as a more inclusive, streamlined, customer-focused, and transparent industry.
Indian banks, despite facing operational, regulatory, reputational, competitive, and technological risks, have effectively managed global macroeconomic fluctuations and interest rate volatility challenges.
The industry's outlook appears promising, driven by the introduction of non-traditional players, the ongoing digital revolution, and government initiatives aimed at bolstering financial inclusion and digital payments, among other contributing factors.
The Board of Directors’ overall roles and responsibilities in fraud risk management, enhance internal control frameworks, and ensure compliance with principles of natural justice.
The survey, in collaboration with Fintech Association for Consumer Empowerment (FACE), will assess the risk perception of various stakeholders, including customers in digital lending.
Road ahead in the digital era
ECL Model Maturity Assessment Tool from Grant Thornton Bharat
With 43% of retail credit demand coming from 18-30 year age group, lenders need to set new benchmarks to cater to the needs of this cohort.
Leveraging our expertise and strong ties with regulatory bodies, we assist organisations in enhancing their compliance culture. Our comprehensive compliance solutions include risk assessment, programme implementation, and activity monitoring.
Specialising in various models (specialised reviews, managed services, and retainership), we offer quantitative, qualitative, and governance solutions for internal control and financial controls.
Our offerings cover a wide range of comprehensive governance solutions, including internal audits, process reviews, ICOFR/IFC development and assessments, SOX audits, SOP development, and specialised risk management reviews focusing on ERM and model validation.
Facilitating banks in their transformation and growth journey through digital advancements, we enhance overall customer experience. Our solutions cover onboarding, digital lending, core banking, neo banking, fintech integrations, and credit monitoring solutions.
Utilising advanced Regtech solutions like Axiom, Workiva, and OFSAA for large banking clients globally. Our system ensures seamless regulatory and legal entity reporting, covering FTP, liquidity, and compliance with IFRS (9, 16, 17, etc.).
Conducting advanced analytics on high-risk areas susceptible to fraud using over 100+ industry-specific fraud indicators. We deploy enhanced investigation procedures in response to triggers identified during the analytics process.
We assist organisations in identifying whether heightened delinquency in a product portfolio stems from business reasons or fraud-related elements.
