For almost eight years, Redwood Bank has focused on property loans and savings accounts for businesses and charities. As any institution within the financial services industry, risk and compliance was already heavily embedded across the culture of the bank, but growth meant processing a higher volume and more complex data.
Spreadsheets were no longer supporting their talented risk team effectively.
With experience across risk and governance in financial services, Michael Colton, Head of Operational Risk at Redwood Bank, was looking for a tool that would support the growth of the bank, and something that they could implement without disrupting the strong framework and culture that was already in place.
That’s when they found RiskSmart - and didn’t look back.