Chennai: BCT Digital, Bahwan CyberTek, with its risk management product suite rt360, recently won the ‘Rising Star Award’. The rt360 product suite aims to drive digital transformation for banks and financial institutions by addressing the risk management space, that includes credit risk, capital allocation, pricing risk, liquidity risk, model risk and operational risk. This award was conferred upon by Chartis Research, in its recently published RiskTech100 2021 report. Now in its 15th year, the Chartis RiskTech100 report conducts the most comprehensive study of leading global companies in risk and compliance technology.
BCT Digital, a FinTech specialist in risk management products, has been helping banks and financial institutions through their pioneering product suite – rt360. BCT Digital’s offerings are hinged on its ability to identify the gaps in the banking and finance sector. In recent times, the Indian banking system has been found enmeshed in a complex web, with the alarming increase in the number of bad loans, non-performing assets and credit frauds. It has only worsened in the present-day context with the outbreak of the COVID-19 pandemic. rt360 was developed with a view to reduce NPAs and has rapidly evolved into a product portfolio that addresses all types of risks a bank face. These products rely on disruptive technologies such as Artificial Intelligence (AI), Machine Learning (ML), Predictive Analytics, Data Analytics, to name a few. The products are tailored to address both the niche challenges particular to the Indian context and also the geo specific regulatory compliance. Therefore, the product suite has found its acceptance in the global market place, specifically across the USA and The Middle East.
“Since its inception, BCT Digital has had the primary goal of empowering banks and financial institutions, and through our robust and cutting-edge technology and product ecosystem, enable them to become risk free. The rt360 product suite is a significant innovation towards developing home grown products to support the risk ridden BFSI sector in India. This endeavour, being recognised by a global platform like Chartis is indeed a matter of honour, and it inspires us to do more, do better, and spearhead the journey of India’s banking system into the next generation”, said Jaya Vaidhyanathan, CEO at BCT Digital.
“Every year in our rankings we identify vendors that are developing new ways to approach risk-management challenges such as digital transformation”, said Sid Dash, Research Director at Chartis. “In that context, BCT Digital’s (Bahwan CyberTek) broad coverage of risk-management technologies and industry sectors is reflected in its Rising Star award this year.” Chartis Research is the leading provider of research and analysis on the global market for risk technology.