A Digital bank that contributes to the growth of Malaysia’s digital transformation and broaden access of its citizens to financial services, particularly the underserved and underbanked, as well as micro, small and medium enterprises (MSMEs).

As a rapidly growing financial institution, the organization needed a platform to navigate evolving and stringent regulations imposed by the country’s financial body. The solution had to effectively identify, assess, and mitigate potential risks to protect the institution's financial health and customer data. It was crucial for the GRC solution to be scalable to support future growth and seamlessly integrate with existing compliance and risk management tools, creating a unified and efficient GRC framework.

With ServiceNow® IRM, the organization developed a comprehensive framework that streamlines risk identification, assessment, and mitigation. The system centralizes policy management, automates audit workflows, and supports business continuity by facilitating disaster recovery planning and testing.

The platform enhances regulatory compliance by automating workflows and centralizing documentation to meet financial regulations, reducing the risk of non-compliance fines and reputational damage. It also improves proactive risk management by streamlining risk identification and assessment, allowing the bank to address potential threats to its financial health, data security, and customer information. Additionally, automating workflows for audits, policy management, and business continuity planning boosts operational efficiency by minimizing manual tasks. The platform fosters increased accountability and transparency by creating a centralized repository for policies, procedures, and audit trails, promoting a culture of accountability within the organization.