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CRISIL, Apparity announce partnership to offer EUC and model governance solutions for financial institutions

Mumbai/New York, January 21, 2022: CRISIL, an S&P Global company, and the world’s top-ranked provider of high-end risk, data analytics and research solutions, has announced a partnership with the US-based Apparity LLC, the global leader in spreadsheet and end-user computing (EUC) monitoring technology solutions.

The partnership will offer a comprehensive EUC and model-risk proposition for financial institutions by seamlessly integrating CRISIL’s expertise in model and EUC governance, and understanding of global regulatory regimes and standards, with Apparity’s cutting-edge solutions that accurately track spreadsheets and EUC risks across business functions and geographies.

The offering will reduce operational risk at the institution level by minimising EUC and model risk.

Says Amit Prakash, Head of Market Utilities, CRISIL Global Research & Risk Solutions, “Spreadsheets and EUC are a constant source of operational risk for every financial institution. The CRISIL + Apparity integrated offering is a complete solution that can cater to the ever-changing requirements and regulatory landscape in the governance, risk, audit, and compliance spaces.”

CRISIL has been working closely with over 100 clients, providing services in model development, model validation, model monitoring and creation of automation solutions to increase efficiency of these functions. Since 2015, CRISIL has developed, reviewed, or validated over 20,000 EUCs and models across the industry.

Apparity’s flagship software offers discovery, registration, and active management modules that allow for full control of each facet of the EUC management policy.

EUC files identified under the Apparity Inventory Management System are automated and provide granular, unified and all-stage views of the EUC environment. The connectivity between modules saves time and enhances the user experience.

Says Gavin Spencer, Senior Vice President, and Co-founder of Apparity, “We’re excited to be working with CRISIL at this critical time of expanded regulatory mandates, helping new and existing customers achieve their compliance goals and drive even greater value from the combined CRISIL and Apparity technology platforms.”

Across the globe, financial institutions are seeking methods to reduce operational risk by improving controls via automated tools and precise business and regulatory expertise. By coming together, CRISIL and Apparity are excited to present such a comprehensive risk offering to the industry.

For more details on CRISIL Global Research and Risk Solutions, please visit: https://www.crisil.com/en/home/our-businesses/global-research-and-risk-solutions.html

For more details on Apparity, please visit: https://www.apparity.com

About Apparity

Headquartered in Atlanta, GA, Apparity provides the smartest platform for banks and insurers looking to efficiently manage mission-critical end user computing application risk. Apparity helps control the entire lifecycle of applications like spreadsheets, databases and scripts.

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About CRISIL Limited

CRISIL is a leading, agile and innovative global analytics company driven by its mission of making markets function better.

It is India’s foremost provider of ratings, data, research, analytics and solutions with a strong track record of growth, culture of innovation, and global footprint.

It has delivered independent opinions, actionable insights, and efficient solutions to over 100,000 customers through businesses that operate from India, the US, the UK, Argentina, Poland, China, Hong Kong and Singapore.

It is majority owned by S&P Global Inc, a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide.

About CRISIL Global Research & Risk Solutions

Global Research & Risk Solutions is the world’s largest and top-ranked provider of high-end research and analytics services. We are the world’s largest provider of equity and fixed income research support to banks, and the foremost provider of end-to-end risk and analytics services to trading and risk management functions at world’s leading financial institutions. We provide corporate research and analytics solutions to operations, strategy, and sales and marketing teams of corporations globally. Coalition provides analytics and business intelligence to 14 leading global investment banks. We operate from 8 research centers in Argentina, China, India and Poland, working with clients across time zones and languages. Being part of CRISIL enables us to attract and retain top quality talent. We have over 2,300 employees, 75% of whom hold advanced degrees in finance, accounting and management. We employ the largest number of CFAs and CFA aspirants in India. We have won top honours at the World HR Congress on Talent Management and HR Project for the year 2015. We have also won the NASSCOM Exemplary Talent Practices Award (NExT Practices) for skill development for two years in succession in 2011 and 2012. The award recognizes us as a firm that has the vision to proactively invest in its people and get them future-ready.

We are committed to delivering cutting-edge analysis, opinions, and solutions. This underscores our proposition of being the best people to work with.

CRISIL Apparity partnership image with logos