RiskNote
Industry: finance & insurance

Risk management for finance & insurance

DORA, Basel III, Solvency II, MiFID II, AML, GDPR. The finance industry has one of Europe's heaviest regulatory risk-management stacks. RiskNote gives smaller finance firms a lightweight entry without compromising traceability or standards compliance.

Typical risks in finance & insurance

Financial institutions are among the most regulated risk-management environments in Europe. Basel III for banks, Solvency II for insurers, MiFID II for investment firms, and DORA from 2025 for operational IT risk all overlap.

At the same time, most finance actors are small: fund managers, insurance brokers, financial advisors, fintech startups, payment providers. They face the same regulatory requirements but rarely have a GRC department.

RiskNote fits particularly well for these smaller firms that need to comply with DORA and other frameworks without buying a multi-million GRC system.

Typical risks the AI suggests for finance & insurance

  • ICT risk (DORA)

    Downtime in trading platforms, deviations in automated trading systems, errors in pricing algorithms.

  • Vendor / third-party risk

    Critical IT suppliers (cloud, SaaS), outsourcing, concentration risk.

  • Credit risk

    Counterparty ability to pay, credit rating, portfolio concentrations.

  • Market risk

    Interest rate changes, currency exposure, volatility in holdings.

  • Operational risk

    Manual errors in trading, inadequate transaction control, compliance gaps.

  • AML and sanctions risk

    AML gaps, KYC weaknesses, sanctions screening. Financial authorities actively review.

  • Cybersecurity

    Targeted attacks on the financial industry, fraud, ransomware. DORA Art. 5 requires structured handling.

Regulatory frameworks for finance & insurance

  • DORA (from 17 January 2025)

    Digital Operational Resilience Act. Structured ICT risk management, incident reporting, vendor review, resilience testing. RiskNote roadmap: DORA framework support Q3 2026.

  • Basel III / CRR / CRD IV (banks)

    Capital requirements, liquidity risk, operational risk. Documented risk management required.

  • Solvency II (insurers)

    Solvency Capital Requirement, Own Risk and Solvency Assessment (ORSA). Risk management is a pillar.

  • MiFID II (investment firms)

    Best execution, investor protection, product governance, all with risk dimensions.

  • AML regulations

    Know your customer, transaction monitoring, risk-based approach. Active supervisory sanctioning.

  • GDPR + financial secrecy

    Banking secrecy, insurance secrecy. Stricter than general GDPR.

Why finance firms fit RiskNote

  • ISO 31000 foundation that DORA builds on

    DORA risk management shares principles with what RiskNote implements. Natural transition.

  • Traceability per risk

    Version history per risk. Needed for regulatory supervision and audit.

  • EU-hosted

    All data in Stockholm. No third countries, no US-based services. Fits financial-secrecy requirements.

  • Pricing that matches smaller firms

    From $3/month. No six-figure implementation like Actimize or Oracle FCCM.

Common questions from finance & insurance

Does RiskNote replace a full GRC system like Archer or Galvanize?

For smaller finance firms (under ~100 people), often yes, for the risk management part. For larger banks and insurers, RiskNote is a complement, not a replacement for full GRC with separate incident handling, policy management, and audit modules.

Does RiskNote support DORA reporting?

DORA-specific framework support (ICT risk taxonomy, incident categories, resilience scenario library) ships Q3 2026. Today you can manually categorise risks per the DORA taxonomy in the free-text field.

Does RiskNote meet supervisory expectations for risk management?

RiskNote is a tool, not a certification. It provides the structure, documentation, and traceability supervisors expect. If your operation requires formal validation, consult a compliance partner.

Can we handle AML risk in RiskNote?

For overall AML risk assessment, yes. For transaction monitoring and KYC screening you'll need dedicated AML tools.

Which plan should a smaller fintech pick?

The Pro plan is recommended ($12/month). Unlimited risk assessments let you keep separate registers for DORA, AML, operational, market risk. The Business plan adds unlimited sharing, good for auditor collaboration.

Build DORA-aligned risk management without enterprise pricing

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