In financial services, speed and accuracy aren’t nice-to-haves — they’re mandatory. Banks, fintechs, insurers, and asset managers juggle RFPs, DDQs, security questionnaires, and regulatory attestations under tight timelines and strict controls.
That’s where Iris helps.
Iris automates RFPs, vendor due diligence, and security reviews with an AI-powered knowledge base, keeping language compliant and consistent while accelerating deal cycles.
Financial institutions face layered requirements across information security, risk, and regulatory reporting. Typical requests include:
Managing this manually means version sprawl, inconsistent language, and slow reviews. See how automation fixes this in What Is Security Questionnaire Automation?
Iris combines AI matching with a central, approved content library so response teams never start from scratch.
For a deeper primer, explore RFP meaning and RFP vs RFQ vs RFI.
Auto-fill repeat answers from a vetted library; cut response times by days.
Related: How to Streamline Proposal Responses with AI
Keep SOC 2, ISO, DR/BCP and privacy language aligned across every submission.
Related: AI in Compliance Management
Every edit, reviewer, and source is logged — helpful for internal audit and TPRM.
Sales, Security, Risk, and Legal collaborate in one place — fewer email threads, faster approvals.
Pro tip: Tag each entry by framework (SOC 2 CCs, ISO Annex A), topic, and product line — it boosts AI match quality and speeds SME reviews.
Financial services teams also face rising expectations from regulators, auditors, and enterprise clients who demand clear evidence of security maturity. Whether responding to NYDFS, GLBA, GDPR, or FFIEC requirements, firms must maintain airtight documentation and provide consistent, audit-ready language across every submission. Internal stakeholders — from Security and Risk to Sales and Legal — also rely on the same information, which means outdated certifications, conflicting terminology, or missing evidence can slow deals and introduce unnecessary risk. Iris ensures every contributor is working from the same authoritative content, reducing friction and supporting compliance from the first touch to the final signature.
As financial institutions grow, so does the operational complexity behind their RFP and due-diligence workflows. High-volume teams often manage hundreds of questionnaires per year across different business lines, each with unique requirements and formats. Without a centralized system, this leads to duplicated work, inconsistent answers, and long approval cycles that drain internal resources. Iris enables operational scale by automating repetitive tasks, centralizing institutional knowledge, and accelerating interdepartmental collaboration. Instead of spending hours gathering answers, SMEs and contributors can focus on strategic work — improving client experience, strengthening controls, and supporting revenue-driving initiatives.
Financial services teams don’t just need to answer quickly — they need to answer correctly.
With Iris, you automate the repetitive work, enforce compliant language, and keep every stakeholder aligned — so you can move from intake to submission with confidence.
Financial institutions must meet strict regulatory, security, and risk management requirements. Responses must align with frameworks like SOC 2, ISO 27001, NYDFS, GLBA, FFIEC, GDPR, CCPA, and internal TPRM and operational resilience standards. This makes manual responses slow, error-prone, and risky — especially when multiple teams use different versions of the same documentation.
Iris centralizes approved answers, evidence, and policy language into a controlled knowledge base. AI automatically maps questions to the correct responses, ensuring SOC 2, ISO, DR/BCP, privacy, and regulatory statements stay accurate and consistent across all submissions. Every edit and approval is logged — making compliance and audit review far easier.
Yes. Iris supports RFPs, DDQs, vendor risk assessments, and regulatory questionnaires in Excel, PDF, and portal-based formats. Teams can ingest documents, match questions to vetted answers, collaborate with SMEs, and export responses in the exact format requested by banks, auditors, or enterprise clients.
Organizations report 80–90% faster turnaround on RFPs, DDQs, and questionnaires, 50% fewer review cycles, improved audit readiness, and higher win rates due to consistent, compliant language. By centralizing institutional knowledge, Iris helps teams scale operations, reduce risk, and accelerate revenue-generating workflows.
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