Effective risk management is a mandate of the board. Currently, the risk management processes in the bank are manual, which makes the bank manage risks in a reactive instead of a proactive way. The general awareness of risk within the bank is low. This is attributed to poor risk culture, lack of risk education and ad-hoc processes.
Automation of the risk management processes at a cost of US $25,000, one-off and the US $ 4,000 annually will:
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