AppPax Risk is the only system that provides continuous assessment, and enables banks to actively manage risk and compliance across the enterprise.

AppPax Risk is an innovative, state-of-the-art analytics, and enterprise risk management solution specifically tailored for financial institutions including banks, credit unions, mortgage companies and others. AppPax Risk is built on the AppPax Banking Hub, a proprietary, comprehensive, API-based banking platform that applies analytics to a unified view of all components and data across the enterprise.

Powerful, Flexible, Simple

AppPax Risk enables the Continuous Assessment/Continuous Management of risk and controls. Users, including Audit, Compliance, SOX/FDICIA and business unit update risks, controls and other information on an on-going basis. Information not updated is indicated as "stale". History of all changes is maintained. Control execution is tracked by the system. Reminders and delinquency notifications are sent automatically through the task tracking module. Potentially duplicate controls are identified by the system.

AppPax Risk provides built-in frameworks and risk/control content for COSO 2013, FDICIA, FCPA, and COBIT frameworks. Other frameworks, including fraud and security assessments, can be quickly configured using AppPax Risk's tabs.

The system was designed from a user perspective. Business unit personnel as well as risk professionals can easily use the features and functions of the system and are integral to the Continuous management of risk.

Risk and Related Control Libraries

Comprehensive library of risks and related controls, including a "baseline" aligned to your financial institution's risk profile. All content can be edited to fit your financial institution. Existing data can be uploaded for a quick, seamless implementation.

Compliance

Incorporates the "3 Lines of Defense" model, consistent with recommended regulatory approach. Risks and controls can be grouped accordingly. For compliance assessments, risks can be sorted by regulation across the enterprise.

Reports and Dashboards

Configurable dashboards provide updated risk, control and information on a continuous basis. Provides real-time risk data, allowing users to focus on Issues and Management by Exception.

Assessment templates are incorporated in AppPax's standard reports. Only stale data and optional narratives require updating to complete an assessment.

Regulatory and Financial Reporting

AppPax Risk's built in reporting helps institutions conform to the assessment requirements of their regulators.

AppPax Risk documents risks, key controls, testing and test results, ensuring compliance with SOX 404, FDICIA, FCPA and other frameworks.

Benefits

Use AppPax Risk can provide financial institution's with the following benefits:

  • Potential to reduce compliance and audit costs 25% to 40%
  • Unified effort among Audit, Compliance, SOX, FDICIA, others, reducing duplicate work and data silos
  • Single source of accurate information
  • Comprehensive, Intuitive, Flexible
  • Aligned with Industry Best Practice and Risk Profile of Bank
  • Real-time, "Actual" measure of control effectiveness
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