Proprietary Risk Management Tool

TRIK: Revolutionizing IT Risk Management

TRIK is a comprehensive IT risk management tool designed for Indian banks. It addresses the unique challenges of the local banking sector, empowering banks to proactively manage and mitigate IT risks. Ensure regulatory compliance and operational resilience with our tailored solution.

The Evolving Landscape of IT Risk

Financial institutions face growing challenges in managing IT risks in today's digital environment

Increased Cybersecurity Threats

As digital banking services expand in India, banks face heightened risks from cyberattacks, data breaches, and hacking attempts, prompting the need for more robust cybersecurity measures.

Regulatory Compliance and Data Privacy

Banks must navigate evolving regulations like the Personal Data Protection Bill and RBI guidelines, ensuring adherence to compliance standards while safeguarding customer data.

Adoption of Advanced Technologies

The integration of AI, blockchain, and cloud computing in banking introduces both operational efficiencies and new risks, such as system vulnerabilities, requiring constant monitoring and risk management strategies.

Key Challenges

Observability Issues

Limited visibility of the IT risk posture of the organization leading to insufficient or misdirected efforts towards compliance or risk mitigation.

Over 90% of recent cyber incidents in Indian banks could have been prevented if the leadership had better visibility into open risks.

Manpower Overheads

Inefficient mechanism to track compliances involving excessive manual interventions, prone to errors or oversights.

On average, 15% of the IT/IS team is dedicated to manually tracking and compiling data, while IT leaders spend over 30% of their time reviewing and correcting it.

Reporting Concerns

Unavailability of a ready data set for audits and regulatory reporting.

2 out of every 5 regulatory submissions are delayed due to insufficient data readiness, while the remaining submissions are either rushed at the last minute or contain data inconsistencies.

Introducing TRIK: Your All-in-One Solution

A comprehensive IT risk management tool designed specifically for the Indian banking sector

Centralized Dashboard

Real-time visibility into IT risk posture with comprehensive dashboards and analytics.

Automated Risk Assessments

Streamlined identification and evaluation of vulnerabilities with minimal manual intervention.

Compliance Management

Simplified adherence to regulatory requirements with customizable compliance templates.

Data Repository

A master data repository for all IT risk items to ease regulatory and internal reporting.

TRIK in Action

Flexible Data Input

TRIK allows you to manually upload multiple checklists which can then be tracked and managed from a single interface, eliminating the need for scattered spreadsheets and documents.

Seamless Integration

Real-time integration with your existing applications such as centralized patch management solutions, network security tools, VAPT applications, web security assessment tools, and IT inventory management systems to pull in necessary statistics without the need for manual data entry.

Comprehensive Analytics

TRIK offers exhaustive dashboards for each module and risk category, trend analysis to track improvement over time, risk scoring, extensive customization options (add new modules, modify checkpoints, bulk upload checklists, enable/disable graphs), and custom reports and data extracts for stakeholder presentations.

Key Features and Benefits

TRIK ensures high observability of the IT risk posture of the organization without excessive manual overheads and need for multiple systems

On-demand Risk Posture

Ready assessment of IT risks and compliance through integration with existing systems.

Ease of Reporting

Centralized repository for all the data pertaining to regulatory reporting.

Flexibility

User customizable compliance templates to adapt to your organization's specific needs.

Why Choose TRIK?

Built by Bankers

Designed by veterans of the Indian banking industry with a deep understanding of the IT risk landscape and current challenges, the tool is comprehensive and ready to deliver benefits from Day 1 with minimal customization and implementation efforts.

Scalable & Customizable

Self-sufficient tool built to scale with extensive customization capabilities means ~0 incremental cost as you keep pushing it to get the best out of it.

Minimalistic Design

Designed to keep things simple and effective ensuring minimal training efforts allowing for a quick adaption within the team. TRIK comes with a bundled training and risk assessment program, to help you hit the ground running.

Investment & Implementation

A straightforward approach to deploying TRIK in your organization

Pricing

Perpetual licensing (On-Prem) with Annual Maintenance Contract (AMC) for continued support and updates.

Implementation

On-prem deployment including integrations with existing systems through API/ETL/Upload mechanisms for seamless data flow.

Post-Implementation

Periodic bulletin with additional security checkpoints basis learnings from peers and regulatory changes, along with ongoing support and upgrades.

What We Should Aim to Achieve

Timely risk identification and mitigation

Minimized manpower requirements

Simplified audits and regulatory reporting

Ready to Transform Your IT Risk Management?

Get comprehensive visibility into your IT risk posture and streamline compliance with TRIK, our proprietary risk management tool designed specifically for Indian financial institutions.