Case Study

Digital Risk Management Platform

The digital risk management market is expected to grow significantly in the coming years. The global digital risk management market was valued at USD 8.2 billion in 2022, and the total revenue is expected to grow by 16.48% from 2023.

At a Glance

A digital risk management platform is essential for organizations to proactively manage and mitigate the risks associated with their digital assets.

It enables organizations to identify, assess, and address potential threats, thereby protecting their operations, reputation, and overall business success.

Key Highlights

Data Integrity

Performance Optimization

Automated Provisioning

Automated De-provisioning

Smart Search Through SmartBox

Achieved Business Intelligence

Challenges

Scientific Measurement and Objective Assessment
Data Integration and Refinement
Global Information Access
Risk Estimation
Uncertainty Representation

About Client

Client is a pioneer in industry that provides catastrophe risk modeling, real-time risk exposure and risk management through available live data, legacy data, assumptions and studies.

FINTECH

Industry

RISK MANAGEMENT

Domain

USA

Location

How we helped?

Liferay being open source Enterprise portal, built in Content Management System and a robust java based web platform was our choice of platform for building the RMS Application.

The Solution

To improve the performance of the application, JavaScript & YUI framework was used which enabled the advanced client side execution policy. The Liferay native UI components have been the core UI elements which were improved with above add-ons and frameworks.
For the search functionality, Google Search Appliance (GSA) & Solr search were implemented to facilitate user to search for the required data through keywords. The system consisted of Solr & GSA both of which have been implemented together.

Advanced Risk Management & Mitigation System

SmartBox was also integrated with these searchers to provide definition of the keyword as and when required. Result of the search can be document files, video links, web content or similar data available with the system.
The system consisted of a robust document archive module with Liferay’s out-of-the-box document management that dealt with the large data, content and reports. Besides the default document management, few customizations had been done to fulfill custom workflow requirements.
To have a graphical representation of the natural calamities happening everyday around the world, Google map APIs are used with pinned affected zone pan world.
In-depth training for the employees using this application was required for optimum utilization of available data. A training module was developed which provided training courses and exams for the users to achieve this.
Above all these, Liferay hooks and extensions were used to make the application rich in terms of UI and functionality. Google Analytics made application even more powerful with accurate data analysis and intelligence.
Considering stability, execution speed and available support, MSSQL database engine was chosen with large amount of actual data and reports. Server availability was also very critical while working with risk management. Server clustering and load balancing were implemented which ensured highest availability of server and faster execution.
Jenkins tool is used for deployment that allows continuous integration and continuous delivery of projects.
Blackboard is also integrated with the system for training and course management.

To summarize the application, please refer diagram below :

In an age where enterprises are more reliant on technology to drive innovation and success, the value of a strong Digital Risk Management Platform cannot be emphasized.

By leveraging the power of sophisticated analytics, artificial intelligence, and real-time monitoring, such a platform goes beyond traditional risk mitigation tactics to proactively identify, assess, and mitigate digital hazards across the company.

This platform enables businesses to make informed decisions, respond quickly to emerging hazards, and maintain the security of sensitive information by providing a comprehensive perspective of cyber threats, data breaches, and compliance difficulties.