RegTech - Fraud Management vendor selection
RegTech - Fraud Management vendor selection
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Problem Statement
Problem Statement
Bank is a famous full-service bank looking to adopt global best standard fraud management tools & techniques. Tool should encompass Retail, Corporate & Treasury fraud scenarios.
Approach
Approach
Global EFM vendor longlist. Vendor shortlist using basic criteria
Running RFI & RFP process on behalf of bank to obtain more vendor details
Conducting vendor demos for bank team to understand vendor offering in depth
Final report including best-fit vendor recommendation and Total Cost of Ownership
Key Findings/Results
Key Findings/Results
Designed a Fraud Mgmt system business case for Sr Mgmt buy-in
Best-fit vendor identified according to client context
Recommendations accepted by all governing committees - working & Steering Committee/Sr Management
TCO negotiations initiated and handed over to Bank's own IT implementation team.
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