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Fincare Small Finance Bank: Centralize, Digitize, and Automate the Audit Process

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15 March 2022

Winner of Celent Model Risk Manager 2022 Award for Legacy and Ecosystem Transformation

Abstract

Fincare Small Finance Bank transformed its manual risk audit procedures to a centralized digital model. The bank had built a digital front end for its customers, but its internal risk processes remained largely manual. The imperative to ensure resiliency during the COVID-19 pandemic was the catalyst for bringing the bank’s operational risk management into the digital age. Doing so greatly increased efficiency, strengthened the bank’s risk posture, and significantly shortened the time for regulatory reporting.

Click on the video link below to watch a conversation between Rajeev Yadav, Managing Director and Chief Executive Officer at Fincare Small Finance Bank, and Neil Katkov, Director with Celent's Risk practice; Celent Risk research members can download the PDF of a detailed case study.