In the recent past, one of the major concerns of banks is to meet the constant regulatory changes and satisfying the auditors and regulators on the compliance. Banks are now looking at technological advancements like Artificial Intelligence and Machine Learning to put an end to the compliance related issues. This is to form part of the analytical framework to help improve the predictive accuracy, and gain sustainable competitive advantage from these once only-compliance driven solutions.
Thus, to achieve the goal of better compliance driven solutions, CARE Risk Solutions Private Limited was founded in 2006, with a focus on delivering value in the banking & finance space through its suite of risk and finance product offerings. The company is working with the best minds which provide the best solutions.
The CARE Risk Solutions team has an experience in the banking & financial technology space, where the team share the common goal by ensuring timely and successful delivery of several multi-million dollar projects and generating customer delight. This ensures to constantly repeat the business process from customers.
However, the vision of the CARE Risk Solutions is to touch-upon the specific areas of Banking & Financial Services vertical through their solutions, which will enable customers to maximize their RAROC.
A Veteran Leader with Compelling Vision
Umesh Ikhe is the CEO of CARE Risk Solutions, which is one of the leading Risk Solutions Company in the South Asia , ME&A and ASEAN market. He brings collaboration and consolidation of new functionality and technology which helps in business growth of the organization and remain ahead of the curve.
Umesh has a wealth of experience in the sphere of the treasury, capital market, private and corporate banking. He has been associated with premier banks like Bank of Nova Scotia and HDFC Bank, and lead the banking practice at AurionPro Solutions. Also, he has extensive advisory experience in technology and management in the sphere of banking and electronic payments industry.
Moving Towards Bright Sides by Overcoming Challenges
Over the years, there have been massive advancements in the risk and compliance solution providers industry. The gambits of solutions offered are no longer restricted to bare regulatory compliance, but extending their way beyond it.
Umesh shared some points about their challenges, that the customers not only look forward to solution which help them constantly, to meet the dynamically changing regulatory needs; but also equip them with the enhanced analytics to help them gain a competitive advantage. He also mentioned to keep pace and stay ahead of times in this dynamic field of risk and compliance, is necessarily important. This needs time & efforts investments to meet the complex requirements, to improve the analytical framework and constantly incorporate tools and techniques to improve the predictive capability with the changing times. This will impose that the solution is highly adaptable and flexible.
To overcome these challenges, currently they are working in the process of strengthening and modelling the framework by incorporating Artificial Intelligence and Machine Learning solutions. Whereas, the entire team of CARE Risk is constantly working towards taking their products to the next level of competency, by incorporating the latest features & technologies based on research and constant feedback from the market.
Outstanding Services Taking the Company to the Next Level
CARE Risk Solutions has always been focused on bringing value to the CRO’s and CFO’s of banks globally. Products that add value to the CRO’s portfolio include Credit Risk, Operational Risk and Market Risk. The ones catering to the CFO’s portfolio are Asset-Liability Management (ALM), Fund-Transfer Pricing (FTP), IFRS-9 compliance and complete Financial Reporting Automation (FRA).
Each of the product is modular and scalable based on the needs of the banks; which benefits reusability of data across products, given that all the products reside on the common CARE Kalypto Application framework. CARE Risk Solutions have built the ‘Kalypto®’ Suite of products, where all the products are business rules driven processing. This not only enables the bankers to make the change themselves on a dynamic basis, but also ensures the transparency of process, models and output.
Further, Umesh expressed – “We at CARE Risk Solutions assures to deliver world-class, high-availability, risk management solutions built on cutting-edge technology, that will facilitate optimal allocation of capital within an aggressive TCO (Total Cost of Ownership).”
CARE Risk Provides Bundles of Benefits to their Clients
The Banks have gained substantially by having CARE Risk Solutions as their technological partner in the risk & finance compliance space. The benefits span across complete process automation, reduced turnaround times, better risk profiling and improved analytical inputs. The enhanced support has given the comfort zone required by the banks.
The Future with Advancements
CARE Risk Solutions have always emphasised on thought of leadership, to ensure remain relevant in every evolving space of risk, finance and compliance; where Umesh stated as –“We like to see in future company is contributing significantly towards constantly adding value to the risk and finance functions of the banks globally”.
Source :-The 10 Most Trusted Risk and Compliance Solution Providers/a>
