As industry standards and global, regional, and local regulations become more stringent, managing compliance on behalf of a complex, global financial technology organization is no easy feat. For Kyriba, a leader in liquidity performance and treasury management, overcoming these obstacles became essential as they expanded the frameworks they operated within. The company sought a robust solution to streamline their compliance processes, ultimately turning to Trustero.
The Challenge: Complicated Compliance Processes
Kyriba initially relied on another platform to tackle compliance program challenges. However, as the global company rapidly expanded, they identified additional needs: managing multiple frameworks, organizing evidence collection, and responding promptly to compliance audits.
"We just needed a more efficient way of examining that evidence, and having AI do it would really get us to our goal of being able to manage more continuously for our audits." - Mike Eisenman
Mike Eisenman, Kyriba's Senior Manager for Information Security, Risk, and Compliance, explained how the team's responsibilities intensified. Despite the usefulness of a prior platform, integrating additional frameworks for bank connectivity created concerns about costs and operational efficiency. This led them to explore alternatives that could better support their growing needs and help them avoid cumbersome manual interventions.
Discovering Trustero: A Seamless Solution
In exploring alternatives, Kyriba discovered Trustero, finding that Trustero's capabilities aligned closely with Kyriba’s requirements. Trustero's use of secure, compliant AI technology offered a distinct advantage.
Trustero's ability to streamline the representation of data in a more organized and understandable manner caught Kyriba's attention. Moreover, Trustero's proactive use of AI meant less reliance on manual processes, allowing the team to manage risks and compliance audits while adhering to the company’s stringent security requirements.
"The one thing that was the most impressive to me in working with Trustero was just the performance of the AI. The recommendations it comes up with, recommendation of where we can actually improve our policies internally." - Mike Eisenman
Implementing Trustero: A Proven Impact
Once the decision to embrace Trustero was made, Kyriba embarked on implementing a Proof of Concept (POC). They rigorously tested Trustero's AI capabilities, including evaluating the AI's performance by integrating varied and intentionally misleading evidence. Trustero's AI impressed the team by accurately identifying inconsistencies, solidifying their confidence in its reliability.
One significant impact of Trustero was its exceptional customer support. Throughout the POC and beyond, the Kyriba team appreciated the responsiveness and professionalism of Trustero's team. Mike Eisenman noted how the reachability and involvement of the Trustero team, including conversations with the CEO, contributed to a positive customer experience.
Realizing the Benefits: Early Wins and Looking Ahead
Since going live with Trustero, Kyriba began witnessing tangible benefits. Trustero facilitated smoother onboarding processes, empowering Kyriba’s staff to focus more effectively on core responsibilities. Even though Kyriba hadn't yet fully utilized Trustero for direct evidence collection during the initial phase, its potential was evident in aligning and mapping controls efficiently.
Mike and his team were also enthusiastic about Trustero's risk register feature, which offered newfound transparency in managing enterprise-level risks. By mapping controls to associated risks, Trustero provided real-time monitoring and control status updates, ensuring Kyriba remained alert to evolving compliance landscapes.
Looking forward, Kyriba aims to operationalize their audits entirely within Trustero. They envision seamless integration where subject matter experts (SMEs) can effortlessly contribute evidence as required. With Trustero, Kyriba's teams are well-equipped to expand their framework coverage while maintaining optimum control adherence.
Conclusion: Trustero as a Compliance Ally
For Kyriba, Trustero has proven itself a valuable ally in transforming their compliance approach. The combination of secure AI technology, valuable insights, and robust customer support exemplifies Trustero's commitment to helping companies navigate the complexities of compliance efficiently.
As Kyriba continues to leverage Trustero, they are poised to achieve even more streamlined compliance practices, all while keeping resources in check. Trustero exemplifies how the right solution can empower businesses to handle compliance with confidence and evolve in today’s dynamic business landscape.