Nasdaq BWise (Nasdaq:NDAQ), a global leader in enterprise Governance, Risk Management and Compliance (GRC), announced today that it has been selected by Bank ABC, an international bank headquartered in Bahrain, to support and further enhance their risk management, compliance and internal audit processes as well as reporting.
By implementing the BWise integrated GRC platform, Bank ABC will reduce the burden and costs of compliance, gain control over their key organizational risks and streamline their audit processes. The BWise integrated GRC platform will enable Bank ABC to create management reports and dashboards to capture and monitor risk issues and compliance obligations.
“We were searching for an integrated risk, compliance and audit tool that enables us to enhance and strengthen our risk management practices throughout the organization,” said Olivier Nijland, Group Head of IT Risk at Bank ABC. “Nasdaq BWise was selected because of the flexibility and rich functionality in one integrated platform, support for Arabic language and the availability of best practices for implementation. In this way the compliance, risk and audit departments will all have access to the right information across the bank globally. We endorse and envision a better collaboration in order to make better business decisions for the bank.”
Bank ABC (incorporated as Arab Banking Corporation) is an international bank headquartered in Manama, Kingdom of Bahrain. Their network spreads across five continents, covering countries in the Middle East, North Africa, Europe, the Americas and Asia. Bank ABC, founded in 1980, is listed on the Bahrain Bourse. Bank ABC is a leading provider of Trade Finance, Treasury, Project & Structured Finance, Syndications, Corporate & Institutional Banking as well as Islamic Banking services.
“The BWise platform will be able to bolster Bank ABC’s efforts in continuing to meet compliance requirements while streamlining their risk and audit processes,” said Rob van Straten, Global Head of Sales and Professional Services, Nasdaq BWise. “The Middle East GRC market is quickly emerging due to the requirements for more transparency and the increasingly regulated business environment. We are pleased to welcome Bank ABC to our expanding community of clients in the Middle East region.”
Contributed | what does this mean?