Protec
Acceleration and governance of CyberArk privileged account security
Streamline the collection and management of regulatory data
Your ally for managing DORA, NIS, ISO and beyond
Optimize your safety assessments
Efficiently manage your IS security
Optimize your infrastructure management
Optimizing budget management in the public sector
Discover our mission and values
Our social and environmental impact
Join us
Our strategic alliances
All our news
Our next meetings
Wavestone’s 2024 RegTech radar aims to highlight innovative technology solutions that enable financial institutions to meet regulatory requirements and improve compliance. Ignimission is on this radar for the second year running, as one of 106 RegTechs identified as particularly innovative and relevant to the banking and insurance sectors. In this context, Frédéric Logeais from Crédit Agricole shared his experience within the Compliance Department of overseeing compliance risks with the Ignimission Platform solution.
Crédit Agricole’s Compliance Department, under the supervision of Frédéric Logeais, is responsible for managing the compliance risks of the Group’s activities. During the review of the data collection process, three priorities were identified:
The aim was to reduce the time taken to make data available and improve the quality of non-compliance risk indicators.
The Ignimission solution, proposed by the Compliance Innovation Unit, was chosen for its relevance, flexibility and responsiveness, as well as its limited cost. Frédéric Logeais explains: ‘The Ignimission solution, proposed by the Compliance Innovation Unit, was chosen because it provided a relevant response to our needs, with greater flexibility and responsiveness than a “traditional” publisher, and at a limited cost.
SUCCESSFUL INTEGRATION AND AGILE MODE
The project, carried out in agile mode, took six months from kick-off to the start of production of the collection campaigns. ‘Ignimission and the Crédit Agricole teams successfully integrated the tool into CA’s technical infrastructure, both in terms of security and performance.
ADVANTAGES IN RUN MODE
‘The solution offers a very useful advantage in RUN mode: it is a no-code platform. After a 3-day training course, the project managers can update the indicator data themselves, or even create new ones.
‘The flexibility, responsiveness and agility of RegTechs enable us to respond effectively to the simple needs of the banking business,’ he adds.
Using the Ignimission solution has drastically reduced the time spent on the collection phase, from 70% to 25% of the total process. Frédéric Logeais also highlights a number of points to watch out for:
Contractualisation requires a major effort on the part of the regtech and the bank to guarantee the SLAs without risking the regtech’s long-term future.To take full advantage of the flexibility and responsiveness of a regtech, it is preferable to use the proposed solution as is rather than requiring overly specific adaptations.
Crédit Agricole’s experience with Ignimission Platform demonstrates the effectiveness of a well-integrated regtech solution in improving data quality and optimising data collection processes. Frédéric Logeais’ testimonial illustrates the tangible benefits of a successful collaboration with an innovative regtech, while underlining the importance of a balanced partnership and an agile approach.
Ultimately, the Ignimission solution enabled Crédit Agricole to improve the quality of its risk indicators while significantly reducing the time and effort required to collect data, thus illustrating the concrete benefits of a successful collaboration with an innovative regtech.
To find out more about Wavestone’s RegTech radar, click here.
We are delighted to announce that Ignimission has been selected for the second year running as one of the most innovative RegTechs on Wavestone’s 2024 radar. This prestigious radar highlights technology solutions that are transforming the compliance and regulatory landscape in the banking and insurance sectors. The study highlights the growing importance of RegTechs in […]
Contact us to speak about your needs and get a demo of our solutions.