A new software solution is being launched which will enable retail banks and consumer lending institutions to better understand their current risk management capabilities and develop a roadmap for growth.
The PIC Capability Assessment (PCA), launched by PIC Solutions, is a low investment solution that will enable the risk management functions of banks and consumer finance organisations in the Middle East to understand their current relative standing to both competitor organisations in the region and to that of the most sophisticated and successful organisations globally.
Focussing on the areas of risk strategy, processes, systems and people, the solution will enable institutions to objectively 'plot' the organisation within a capability matrix. The output from the process and the matrix will be utilised to develop a roadmap with recommendations for improvement.
The roadmap will be aligned against PIC Solutions understanding of the organisation's wider business imperatives and prioritised based on PIC Solutions' experience of the typical evolution of risk management functions and expectation of the benefits that might be gained from each.
Ian Read, Director of PIC Solutions International, based in Dubai, said "Our clients often mention that they are so focused in addressing immediate priorities that they find it challenging to devote the time to consider where they should be taking their risk capabilities strategically. This is a recurring issue in the region and PIC Solutions is uniquely qualified to assist, combining the global experience of our consultants with the regional knowledge gained in hundreds of GCC consulting assignments."