A leading small finance bank in India is digitizing their multiple internal audit processes with Audit360

The Old Process

The bank has independent internal audit set up for multiple processes which includes branch audits, head office audits, voucher audits, central credit audits, IT audits and more.

They internal audit processes were being managed manually by an experienced internal audit team.

Key Challenges

As the bank was expanding their business operations, they were finding it difficult to scale the manually managed internal audit process.

The bank was looking for a single solution that could digitize the individual internal audit processes wherein each process could function with its own choice of workflows & digital interfaces. For example, there were variations in audit review, signoff, issue resolution and reporting flows across the processes. Then, while a mobile app for branch audits was a perfect digital interface for auditors on field, the headquarter audits required web interfaces to capture data from a single location.

The bank was also looking for a scalable solution that allowed them to add as many audit types, audit schedules and audit users as they wanted without an impact on performance.

The Solution

We offered the bank Audit360’s multitenant enterprise solution.

Audit360 is inherently a scalable solution. It allows configurability& customizability in workflows and digital interfaces. The architecture is tuned for high performance. The number of audits and users can be scaled to any extent simply with hardware scaling. Moreover, any number of audit types can be configured and managed easily in Audit360.

Unlike, many other internal audit management solutions,Audit360 brings in true digitization for internal audit operations.

Read more how we deployed the application for the dynamic requirements that the bank had. And how we continue to digitize more and more audit processes in and agile manner.

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