Key achievements for Redwood Bank
Paced roll-out, working to their preferred time schedule
Provided confidence and trust in data integrity
Supports and enhanced a strong risk culture
Summary of the partnership
The challenge
For Michael Colton, Head of Operational Risk at Redwood Bank, spreadsheets were always a temporary fix. With experience across risk and governance in financial services, he knew the real challenge was timing: waiting until the bank was ready to scale and the right system was ready to meet them. When risk data volumes surged and manual methods became too heavy and clunky for their team to use, the moment arrived. That’s when they found RiskSmart - and didn’t look back.
The solution
What set RiskSmart apart for Redwood Bank wasn’t just the sleek, user-friendly interface - though that helped. It was the perfect fit: easy to tailor to their risk methodology, with seamless onboarding and multi-tiered risk assessments built in. But more than the tech, it was the partnership. RiskSmart’s open-door feedback culture and collaborative roadmap felt right. The team’s already seeing the difference, and they’re just getting started.
“RiskSmart has given us access to a single source of truth. We can pull out the risks and get a detailed view of them instantly, and don’t have to second-guess the validity of the data.”
