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Enhanced Compliance in Banking: TRAC GRC's Impact

In the ever-evolving landscape of banking and finance, compliance and risk management have become critical areas of focus. A recent report reveals that banks and credit unions using the TRAC governance, risk, and compliance (GRC) platform developed by SBS CyberSecurity achieve an average of 36.6% fewer audit findings compared to those not utilizing the platform. This statistic underscores the transformative potential of centralized risk management solutions in the financial sector.

TRAC GRC has established itself as a vital tool for over 1,800 organizations since its inception in 2007, benefiting more than 10,000 users. The platform replaces the traditional reliance on spreadsheets and shared drives for managing risk and compliance tasks, allowing institutions to streamline operations and enhance efficiency. According to estimates by SBS CyberSecurity, a typical community bank or credit union can save up to 30 hours each month when switching to TRAC.

Key Features and Benefits

At its core, TRAC GRC is designed with the specific needs of regulated institutions in mind. The platform has evolved into a more user-friendly structure, taking customer feedback into account, and now features a simplified Core Platform with optional suites. The Core Platform includes crucial components like IT risk management, vendor oversight, business continuity planning, and comprehensive auditing tools.

The introduction of a suite-based approach allows organizations to tailor their TRAC experience according to their unique requirements. The available suites include:

• - Governance Suite: Focuses on information security documentation, employee access protocols, and incident response procedures.
• - Risk Suite: Encompasses BSA, CRI Profiles, and various assessments including NIST CSF and ACET.
• - Compliance Suite: Facilitates compliance management, internal auditing, FDIC InTREx, and enterprise risk management.

One noteworthy aspect of TRAC GRC is its integration of real-world insights from SBS CyberSecurity's consultants and auditors. This collaboration ensures that the platform's workflows align with examiner expectations, enhancing the overall effectiveness of risk management strategies. Moreover, TRAC's built-in intelligence is continuously updated based on over 1,100 hours of annual research, making the platform responsive to the shifting landscape of regulatory threats.

Positive User Feedback

In 2026, TRAC achieved an impressive Net Promoter Score of 55.5, significantly higher than the average score of 30 reported across the software industry. Customers have lauded its ability to unify multiple facets of risk management—including audits, information security, business continuity, and vendor management—into a single, cohesive interface.

Dan Sorenson from Plains Commerce Bank highlighted the platform's unique capability, stating it is the only product that consolidates all necessary functions into one view. This singularity allows for improved oversight and reporting, ultimately preparing organizations for examinations with greater confidence.

A Look Forward

As financial institutions adapt to dynamic regulatory environments, TRAC GRC represents a crucial advancement in risk management and compliance. With its comprehensive features and significant time savings, the platform empowers banks and credit unions to proactively manage risks while maintaining compliance. Organizations interested in learning more or scheduling a demo can visit tracgrc.com for further details.

In conclusion, the TRAC GRC platform not only facilitates compliance but also enhances the productivity and efficiency of financial institutions. By providing a single source of truth for audits, controls, and vendor management, TRAC fosters a culture of accountability and preparedness that is essential in today’s financial landscape.

About SBS CyberSecurity

Founded in 2004, SBS CyberSecurity has positioned itself as a trusted advisor, helping organizations navigate the intricate landscape of cybersecurity and compliance. The firm emphasizes that cybersecurity is not merely a one-off concern but an ongoing priority requiring constant vigilance and adaptation.