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Nationwide subscribes to Algorithmics' First database

17 July 2007  |  1489 views  |  0 Source: Algorithmics

Algorithmics has announced today that Nationwide, the largest building society in the UK, has reached a subscription agreement for access to the FIRST (Financial Institutions Risk Scenario Trends) database of case studies, Algorithmics' Operational Risk Case Studies solution.

Nationwide joins a FIRST user community of more than eighty of the world's premier global banking organizations and financial institutions that are using the FIRST database to assist in managing operational risk proactively and as part of a best-practice program.

Penny Cagan, Managing Director and Head of Research for Algorithmics' Algo OpContent solution said, "We are pleased to welcome Nationwide, a mutual organization that is so important to the retail banking sector in the UK, to our community of users. Our depository of more than 7,000 case studies, with its breadth of coverage reflecting over twenty years of indepth research, provides an important source of content for scenarios, self-assessments, new product evaluations and change management initiatives."

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