Third-party management solutions designed for your industry needs
The financial services industry is under pressure by an increasingly active regulatory environment, stakeholder scrutiny of their risk management programs, and a need for measurable program efficiencies defined by their own distinct requirements. How firms manage the risks associated with suppliers and subcontractors needs to be a priority. Aravo’s Financial Services software solutions map directly to regulatory guidance built on best practice third-party risk management frameworks, and provides complete risk management visibility.
Customers worldwide trust Aravo to provide products that align with industry regulations for financial services. We make it easy to understand the latest rules and requirements on third-party risk.
Financial institutions face a maze of regulations, laws, and standards as part of their compliance programs. Aravo understands how to navigate these complex financial services regulations and interagency guidances to support best-practice operations.
Aravo’s Third-Party Management, Financial Risk Assessment, and ABAC solutions are designed to help institutions implement a best-practice program rapidly and with the confidence that it has been aligned with industry requirements. Our solutions are based on decades of TPRM expertise, with highly-configurable features, unmatched data visibility, and accelerated TPRM workflows. With this, customers can get the right solution for their distinct requirements.
Automated Assessments
Scoring
Due Diligence
Continuous Monitoring
Issue Management
Corrective Action Processes
The Aravo platform is tailor-built to meet the TPRM needs of your financial organization. Harness our platform to protect your business from third-party risks and improve its resilience. Many risks arise when financial institutions rely on outside vendors to perform activities on their behalf:
Operational Risk – Operational risks can emerge when vendors fail to honor SLAs and maintain their role in business operations. These threats are best resolved through corrective actions or the placement of backup vendors.
Financial Risk – A poor-quality or mismanaged vendor can hamper the financial growth of your organization. Monitoring and reporting can help you keep tabs on each vendor to predict or prevent these financial pitfalls.
Reputational Risk – Third-party vendors can cause severe reputational damage to the financial organizations they represent. It’s essential to monitor the reputations of these vendors, taking corrective action as needed.
Cybersecurity Risk – Cybersecurity threats result in data breaches and major losses for financial institutions. These risks can be managed through close monitoring and due diligence at every phase of the vendor lifecycle.
Anti-Money Laundering – Anti-money laundering (or AML) is essential to evaluate across third-party relationships. AML legislation becomes increasingly strict each year. Our leading TPRM risk intelligence helps detect and control risks related to AML and other financial crimes.
“Fidelity International is committed to ensuring that our suppliers are managed in line with regulatory requirements and industry best practice. We selected Aravo Solutions for their proven track record in supporting global, enterprise clients who have complex vendor risk management programs. With Aravo, our supplier risk management program and processes will be standardized across the firm and the technology will enable consistent governance and oversight of supplier risk and performance across the enterprise.”
– Gary Lock, Head of Third-Party
Risk Management,
Fidelity International
“We selected Aravo Solutions for their proven track record in supporting global, enterprise clients who have complex vendor risk management programs. With Aravo, our supplier risk management program and processes will be standardized across the firm and the technology will enable consistent governance and oversight of supplier risk and performance across the enterprise.”
– Gary Lock, Head of Third-Party
Risk Management,
Fidelity International
“Best fit for our requirements, transparent and capability to handle greater volume of requests with ease. [The] Aravo technical team is very professional and supportive.”
– Process Lead,
Financial Services Firm
“Best fit for our requirements, transparent and capability to handle greater volume of requests with ease. Aravo technical team is very professional and supportive.”
– Process Lead,
Financial Services Firm
With a single system for all third-party information and powerful risk management workflow processes, Aravo helps you streamline the management of your third parties throughout the full lifecycle of the relationship.
