In this podcast The GRC Pundit interviews Ian Hollowbread and Mukund Umalkar of ING to discuss the future of GRC technology and their GRC Orchestrate Project.
I have a dream. It is futuristic, but realistic. It involves a Star Trek chair and a bank of monitors. It would involve tracking the global flow of funds in close to real time, in much the same way as happens with global weather systems and global internet traffic. Its centerpiece would be a global map of financial flows, charting spill overs and correlations.Andy Haldane, Bank of England Chief Economist
Take this quote from Andy Haldane of the Bank of England and replace ‘flow of funds’ with ‘risk and compliance’ and you have the exact concept of what ING Labs is architecting with their GRC Orchestrate Project led by Ian Hollowbread and Mukund Umalkar.
Orchestrate is intended to operated as a new entity, offering the market a RegTech platform similar to an ‘App Store’ to both find and consume pre-validated RegTech solutions; in addition providing a technology framework for these solutions to connect seamlessly across each other and alongside existing legacy architecture. Orchestrate aims to remove unnecessary complexity in a world of constant change, support digital transformation and help deliver ‘end-to-end’ enterprise compliance.
Their key design principles of Orchestrate are:
- Customers – open and accessible, client centric design principals
- Culture – user experience first, agile and change resistant
- Connection – modular thinking, simple and homogenous, ecosystem agnostic
Want to learn more? Listen to this episode of The GRC Pundit Podcast as The GRC Pundit interviews Ian Hollowbread and Mukund Umalkar on this fascinating project . . .