Core banking applications (e.g. Finacle) is the backbone software used in the banking and financial institution sector for processing of transactions, which are not limited to cash, check/cheque, loan facilities, trade (visible and invisible), electronic channels (ATM/POS/Web), bills, treasury and securities, etc. Other functions that the core banking application cater for are Customer Relationship Management (CRM), financial statement management (balance sheet for assets & liabilities and profit/loss account statement). Given the criticality of the core banking application to the business, not being aware of the inherent risk/vulnerabilities associated with the deployment of the application and the threat they pose to the organization could be dangerous. As such, it is important that risk associated with the application deployment, the infrastructure on which they run as well as other process, policy and regulatory requirements are identified and assessed to prevent adverse impact on its confidentiality, integrity and availability. A comprehensive risk of assessment core banking application as it relates to technology was carried out to identify all applicable risk and implication of those risk to the business and well as the recommended action or treatment plan that will mitigate or minimize the risk. Find below a sample page of the core banking application risk assessment template. For full access to the template document, you can subscribe to our membership plan or purchase this template by click the "Buy Now" button below.