Streamline Compliance and Mitigate Risk with NayaOne
Transform your risk and compliance operations with NayaOne, empowering your team to navigate regulatory challenges effortlessly.
Enhance your risk and compliance capabilities with NayaOne. Equip your team with comprehensive analytics, automated compliance tracking, and seamless integrations to manage risks proactively and ensure regulatory excellence.
Why NayaOne for Risk & Compliance teams?
Proactive Risk Management
NayaOne connects institutions with vendors that provide AI-powered fraud detection platforms, allowing them to quickly identify and address emerging fraud threats tailored to their specific operational environment.
Risk Assessment and Mitigation
By facilitating access to vendors offering advanced risk modeling tools, such as predictive analytics for credit risk, institutions can more accurately assess borrower risk and make informed lending decisions.
Streamlined Compliance
NayaOne helps institutions integrate regulatory technology (RegTech) solutions that automate compliance checks, reducing the time and effort required to meet constantly evolving regulatory requirements, such as anti-money laundering (AML) reporting.
Unlocking innovation for Compliance & Risk teams
Explore how NayaOne’s innovative platform empowers Compliance and Risk teams.
Real-Time Fraud Detection
Using AI and machine learning algorithms, financial institutions can monitor transactions in real-time to detect unusual patterns or behaviors that signal potential fraud. These systems continuously learn from new data to improve detection accuracy, preventing unauthorized transactions and minimizing losses.
Identify Verification and KYC
Financial institutions can implement digital identity verification solutions to ensure that customers are who they claim to be. This reduces the risk of identity theft, fraudulent account openings, and helps meet regulatory compliance standards for KYC processes.
Transaction Monitoring (AML)
Fraud teams can deploy transaction monitoring systems that automatically flag suspicious activities related to money laundering. These systems analyze transaction data, identify unusual patterns, and generate alerts for further investigation, aiding compliance with AML regulations.
Behavioral Analytics for Insider Threats
By analyzing employee behavior and access patterns, financial institutions can identify unusual or risky activities within the organization, such as unauthorized access to sensitive data. Behavioral analytics helps mitigate the risk of internal fraud and security breaches.
Credit Risk Assessments for Fraudulent Applications
Financial institutions can use automated credit risk assessment tools that flag fraudulent loan applications by cross-referencing data from various sources. These tools help identify inconsistencies, fake identities, or forged documents, reducing the risk of granting credit to fraudulent applicants.
Multi-Factor Authentication for Fraud Prevention
By integrating MFA across customer accounts and internal systems, financial institutions can enhance security and reduce the risk of account takeover fraud. This adds extra layers of protection beyond passwords, such as biometric verification or one-time passcodes, to prevent unauthorized access.
FAQs
We maintain a deep understanding of regulatory landscapes in key markets such as the UK and US. This knowledge allows us to ensure compliance while implementing innovative solutions for our clients. Our expertise helps mitigate risks and streamline the adoption of new technologies.
NayaOne complies with several important regulatory standards, including SOC2, ISO27001, and Cyber Essentials. These certifications demonstrate a commitment to maintaining high levels of data security and compliance.
NayaOne holds certifications such as SOC2, ISO27001, and Cyber Essentials, demonstrating its commitment to stringent security and compliance standards. With a client base that includes Global Systemically Important Banks (GSIBs) and crucial infrastructure providers, NayaOne has extensive experience in meeting regulatory compliance requirements.
Additionally, NayaOne operates the UK Financial Conduct Authority’s (FCA) digital sandbox, which entails high compliance expectations from both the regulator and the various banks and vendors participating on the platform, including another GSIB. This collaborative environment reinforces NayaOne’s capabilities in managing multi-party engagements while ensuring adherence to regulatory standards.
NayaOne works closely with regulators, including hosting the FCA’s digital sandbox, which provides a platform for testing and validating new financial products under regulatory supervision. This collaboration helps ensure that compliance requirements are met and best practices are shared.
Champion your initiative
Secure the support of key stakeholders to initiate your project and bring it to life.
Senior management and executives, such as the Chief Product Officer (CPO) or Chief Technology Officer (CTO), play a pivotal role in the final decision-making process. They review strategic alignment and overall business impact, approving significant investments in new products or technologies.
Product Managers are responsible for defining the product vision, gathering requirements, and identifying customer needs. Product managers evaluate potential solutions and influence purchasing decisions based on strategic alignment with the bank’s goals.
These stakeholders evaluate the product’s compliance with regulatory requirements and internal policies. They assess risks associated with implementing new solutions, ensuring that any purchase adheres to legal and regulatory frameworks.
The finance team analyzes the financial implications of the purchase, including budgeting, ROI, and cost-benefit analysis. They provide critical insights into the financial viability of investing in a new product.
The marketing and sales teams assess how the new product aligns with customer needs and market trends. They provide input on customer demand and competitive positioning, influencing decisions on product features and benefits.
While not always directly involved in the buying cycle, input from end users is valuable in understanding user experience and functionality. Their feedback can influence the product requirements and features needed for a successful implementation.
