The first use case of the new GRC tool is Autumn, a fintech start-up powered by Standard Chartered. Autumn offers a digital wealth, health, and lifestyle solution created to simplify future planning into small steps. The main challenge regarding risk management at Autumn is the manual process in assessing, recording, testing, and reporting risks and controls. The risk registers and control testing are currently recorded manually in spreadsheets. “Version control, approval workflow, record keeping, and audit trails become very difficult to be maintained”, states Billy Cheng, Business Operational Risk Manager at Autumn.
“The collaboration with SC Ventures has been fantastic. I am fully aware of the various pain points and challenges in using a complex GRC system”, says Billy who held a first-line business risk management role at Standard Chartered before joining Autumn. “By participating in this project since day one, I was able to work on tech partner selection, requirement definition, user testing, and reporting automation. The SC Ventures team has been very open and supportive of my recommendations to make the Resolver system fit-for-purpose and deliver true value. This will benefit not only Autumn, but also other fintech start-ups under SC Ventures”, Billy continues.
The collaboration not only solved GRC challenges but also promoted innovation
Resolver also appreciated the constructive partnership with SC Ventures: “The SC Ventures team was knowledgeable, driven, and wanted to challenge the status quo to get the most out of our solution”, says Will from Resolver. The collaboration between Autumn, Resolver, and SC Ventures has not only solved GRC challenges but also accelerated innovation. “Autumn becomes the pioneer in shaping the future of the GRC management using a best-in-class digital solution”, Billy from Autumn concludes.
This article was originally posted to the SC Ventures FinTechBridge site and was reproduced with permission.