Business Control Solutions, a leading provider of financial governance, risk and control software to the banking and financial services markets, today announced that following a highly competitive evaluation and tender process a leading UK based financial services group has selected BCS Integrity to standardise and centralise group-wide balance sheet control.
The BCS Integrity web-based platform will systemise the bank's account ownership and attestation process and deliver greater control, transparency and assurance over the balance sheet.
BCS Integrity was chosen for its proven scalability, workflow, organisational hierarchy support, KRI/KPI monitoring and powerful dashboard based senior management reporting. Another key selling point is its ability to deliver a highly flexible solution to support thousands of users reviewing and certifying millions of account combinations per month across both general ledgers and the supporting sub-ledgers.
Adrian Somerville, Managing Director of Business Control Solutions, said: "BCS is delighted to welcome this UK based banking group to our client portfolio. Our selection underlines the proven success we've had in supporting the balance sheet and financial close control requirements of other major financial institutions.
By implementing BCS Integrity, the banking group will achieve complete transparency and control over their balance sheet with real time visibility into the status of their account attestation process. Systemising the financial close process enables issues to be identified quickly which gives the group the ability to address operational risk more effectively. This is an exciting opportunity for Business Control Solutions to deliver our market leading product to another major financial services group."
The implementation and group-wide roll-out of BCS Integrity is expected to be completed by mid 2011.