New threats, old foibles prompt banks to switch GRC vendors

Op Risk Benchmarking: more than half of participants are reviewing or switching systems


Switching from one software vendor to another can be painful. It can also be unavoidable.

More than half of the participants in a new survey are now either considering that wrench – or living through it – for their governance, risk and compliance (GRC) systems.

The reasons vary. In one case, a bank chose to upgrade from an in-house system because of the changing nature of the information security (infosec) threats it faces.

“Due to geopolitical tensions, more and more, you need to evolve

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