Case Study

A Resilient Risk Management System Powered by ServiceNow GRC for a Fintech SaaS Enterprise

Leveraging ServiceNow GRC to automate complex risk and audit processes across departments.

A Resilient Risk Management System for a Fintech SaaS Enterprise

A leading Fintech SaaS company in the US automates its risk, compliance, and audit processes, replacing manual methods with the dynamic capabilities of ServiceNow Governance, Risk and Compliance (GRC).

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Industry & Region: Fintech, US

Tech Stack:  ServiceNow GRC: Policy & Compliance, Risk, Audit, and TPRM (Third-party Risk Management)

Client Overview

Our client is a US-based Fintech Enterprise Software-as-a-Service (SaaS) company that offers cloud-based autonomous software for the office of the CFO. The organization is committed to transforming the key finance and accounting functions for the world’s leading companies, including a third of the Fortune 1000, through strategic adoption of modern technology solutions.

Business Challenge
Our client faced significant challenges in managing their regulatory controls, auditing, and risk calculations, which were manually handled using Excel spreadsheets. This manual approach made it difficult to evaluate and monitor risks posed by third-party vendors. Inconsistent risk data from various business units and third-party vendors led to inaccurate and unreliable risk assessments. The organization needed a solution to unify and streamline the regulatory controls and risk assessment processes across departments and third-party vendors in one workspace for assured accuracy and efficiency.
Solution Offered

Our expert ServiceNow team successfully implemented a comprehensive GRC framework (Policy & Compliance, Risk, Audit, and TPRM), despite the absence of a CMDB.​

Next was consolidating disparate risk data from multiple Excel spreadsheets across the enterprise into a single source of truth within the ServiceNow GRC platform.​

A custom solution for comprehensive reports (with real-time data) offered key insights into audit findings and aligned with the latest operational standards. These reports are now accessible to reviewers and department heads.​

A role-based dynamic dashboard was created and published within the remediation workspace, providing tailored views for each user for active monitoring.​

Value Delivered
  • Single View of Risk Data: A centralized platform aggregating risk data across the organization for real-time visibility into internal and third-party risks.
  • Automated Workflows: Automated collection of risk data from vendors, tracking of their risk profiles, and flagging potential risks in real-time.
  • Reduced Manual Effort: Automation of risk assessment workflows, compliance monitoring, and reporting to significantly reduce the manual effort required for risk management tasks. Faster response times and the ability to handle larger volumes of risk data.
  • Enhanced Compliance: Reduced risk of non-compliance with automated tracking of regulations.
  • Real-time Insights: Actionable insights into audit progress, findings, and corrective actions. Better scheduling, resource allocation, and timely execution of audits in real-time.
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A Resilient Risk Management System for a Fintech SaaS Enterprise

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