Banking and Finance

The banking and finance sector is very huge. It involves banking and non-banking financial companies. This is a very important and critical sector that plays a major part in propelling the country’s economy.

With the advent of technology and the banking sector liberalised to allow the private sector banks, competition ensured amongst the banks, especially the nationalised and cooperative banks. In addition, security concerns about siphoning money, forging of cheques, and technology-aided frauds such as phishing, arose. Customers started reporting loss or theft of money through electronic means.

This prompted the finance ministry to formulate rules and regulations to streamline the banking and financial sector, and prevent unlawful activities such as money laundering, tax evasion, and other frauds.

GRC Stack^TMis ready to help its customers in the banking and finance sector with an elaborate GRC system that help the banks and non-banking financial companies to take all possible risks into consideration and mitigate them. The audit plan feature of the GRC system will help the banking or non-banking company to In addition, the GRC application will help the banking and finance sector ensure strict compliance with the rules.