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Let’s talk Technology Risk Assessments (TRAs) and your Digital ID solution!

In the rapidly evolving landscape of cyber risk, data protection & anti money laundering compliance, organisations face the daunting task of navigating a complex regulatory framework whilst identifying and safeguarding compliance against technological risks.

Central to this effort is a Technology Risk Assessment (TRA). The TRA  not only satisfies regulators but also assures third parties, such as banks, of the reliability of your compliance solution. Needless to say, conducting a thorough risk assessment of your chosen provider and their technology, along with your implementation of it  is indispensable.

Here’s what you need to know:

By conducting a TRA  you do not only meet your regulatory requirement to do so, but take a proactive step to safeguard your organisation. A well-executed TRA provides internal auditors with valuable insights into the effectiveness of the compliance solution’s technological infrastructure. By identifying potential risks and vulnerabilities of your chosen compliance solutions, your organisation can proactively address any shortcomings and strengthen your compliance framework.

In an interconnected financial ecosystem, trust is paramount. Conducting a TRA validates the integrity and reliability of your compliance solutions internally, but also for your customers and  third parties. This validation facilitates smoother partnerships and accelerates the acceptance of output from Certified Identity Service Providers across the financial services ecosystem.

We’re here to help!

At SQR we understand the importance of a robust TRA and our inhouse compliance team has prepared a sample document specific to our product to assist you.  Our solution combines advanced technology with industry-leading expertise to deliver a seamless compliance process, mitigating  technological risks inherent in Digital Identity and Verification collection and use.

Get in touch to hear more about our award winning e-KYC dashboard and Digital Identification and Verification  solution. We are here to help you efficiently navigate the complexities of compliance for your regulated financial service business. 

Interested in finding out more?

Please contact us or use the instant chat feature located at the bottom of this page.
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