Collaborative Software Initiative

CSI SIG

Benefits

for the
Financial Institution

Innovation at Low Cost - The use of CSI SIG significantly reduces the cost of managing and approving the responses from one or more service provider. It also reduces software integration costs for in-house risk management applications and databases by importing well-formed XML conforming to a published schema.

Productivity - The CSI SIG submission review feature allows the financial institution to create “model” response sets and then automate the comparison of received SIG responses, flagging exceptions for rapid assessor reviews. Exception reports can then be sent back to the submitter for clarification or correction. This can significantly speed up the approval compliance review process.

Integration - CSI SIG output can be easily imported into existing operational risk management and other enterprise risk management systems. CSI SIG provides financial institutions the capability to receive a PDF version of the SIG for human review as well as an XML version.

for the
Service Provider

Innovation at Low Cost - The use of CSI SIG significantly reduces the cost of responding to one or more requests from financial institutions. The CSI SIG questionnaire can be completed by multiple concurrent users one time and sent to each financial institution as requested.

Productivity - The use of CSI SIG reduces time to complete the SIG questionnaire as the system is centralized and multi-user. It safely allows multiple simultaneous responders.

Workflow - CSI SIG provides the service provider with workflow capabilities to define users, roles and responsibilities for answering questions and approving responses.

Standardization - CSI SIG provides a cost-effective standalone data entry facility for service providers that can be used with multiple financial institutions.

Version Control - CSI SIG supports version control when preparing, approving, submitting, and tracking SIG responses to each financial institution customer for every service offering.

for both the
Financial Institution & Service Provider

Usability - CSI SIG provides an easy to use web interface built upon a multi-user relational database.

Access Security - CSI SIG uses a role-based permission system. Administrators can create users and roles such that only appropriate users may view, edit, approve, or compare responses. New roles can be created with view, edit and approve capabilities at the global or page level.

Completeness - CSI SIG allows the service provider to easily attach completed supporting documents and notes to specific questions and sections that are sent to the financial institution as part of the completed SIG.

Data Security - CSI SIG provides the option of encrypting submissions to protect sensitive data during transmission between the service provider and the financial institution.

Data integrity - Data integrity in CSI SIG is guaranteed through the use of a validated XML schema.

SIG Upgrade Support - CSI SIG is committed to support all updates and enhancements to the SIG. This gives users a migration path preserving all work already completed where only the new elements of the SIG need to be addressed for a service provider to be compliant with the enhancements to the SIG.

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CSI SIG

for the Financial Institution

for the Service Provider

for both the Financial Institution & Service Provider

for the
Financial Institution

for the
Service Provider

for both the
Financial Institution & Service Provider