Ensuring compliance is crucial in today’s business landscape. As operations become more complex, the risk of non-compliance rises. Heightened regulations and diverse risk categories add to the challenge.

Traditional manual compliance methods remain costly (1-3% of US firms’ wage bill)[1] and grow harder with complexity. Control failures are equally expensive, with US companies paying over $5 billion in penalties in 2023 – a staggering 63% year-on-year increase. [2]Large banks have closed doors or faced regulatory fines in the last few years due to inadequate compliance oversight required to effectively manage risk.

The approach used for ensuring compliance today focuses largely on manual validation and sample-based coverage of controls. These approaches cannot provide the coverage or agility required in today’s environment and is expensive to scale. Several organizations are actively considering Continuous Compliance Monitoring which is a new automation-based paradigm. This approach shifts the focus from periodic validation and compliance to continuous assurance, from sampling towards 100% coverage.

The Infosys Continuous Control Monitoring Solution enables financial organizations to improve their risk & compliance posture by leveraging the best of AI-sharpened automation whilst lowering the cost for compliance.

Continuous monitoring, Reduced Residual risk, Reduction in regulatory penalties, 100% Automation of controls, Continuous assurance

talk to our experts

The Infosys Continuous Control Monitoring Solution provides a comprehensive framework to facilitate automated validation, monitoring of controls, remediation, and root-cause analysis and finally prediction and prevention of failures. It provides a single platform to manage controls across risk domains and at multiple levels, i.e., from the CXO level to line of business to process down to the individual control levels (through role-based access control).

Control testing scenarios can be configured and maintained, and control failure alerts generated with an inbuilt rule engine. The solution comes with Prepackaged integration adaptors with leading GRC solutions like IBM OpenPages, Archer IRM, Metric stream to maintain a consolidated repository of risk and control registers of various risk areas. The solution has a modular design enabling it to be used in standalone mode or with full or partial integration with leading GRC Solutions.

Underlying all the above is a comprehensive set of AI capabilities which provides multiple capabilities to ensure ongoing compliance. Current features include control failure summarization and insights in addition to suggested remedial measures and root-cause analysis. A chatbot feature enables users to search on various aspects including semantic search. Current roadmap includes AI-based prediction to give early warning alerts on potential controls that might fail along with recommended preventive measures.

Infosys Continuous Control Monitoring Solution allows organizations to shift their resources from control testing to analysis, improvement, and prevention.


Challenges & Solutions

This model limits the cost to the one-time cost for automation of control tests removes the recurring costs for ongoing management of controls.

Proactive monitoring approaches covering root-case analysis and remediation in addition to prediction of future Control failures

Automated monitoring and assurance ensures continuous controls monitoring

Ensure continuous monitoring, remediation and prevention with the potential to cover 100% controls, leading to lower cost of Operations for controls due to automation and lesser issues in Internal Audit