Mumbai/New York, February 7, 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