Standard Chartered goes live with RiskNucleus® GRC Solution

F.P. Report

KARACHI: BenchMatrix has successfully facilitated Standard Chartered Bank Pakistan (SCBPL) in the installation and implementation of its RiskNucleus® GRC, with the goal to digitize the Bank’s compliance risk management processes.
The implementation of this comprehensive solution will assist Standard Chartered in holistically managing compliance processes and ensure regulatory compliance. The solution is a well-integrated system that allows risk managers to effectively assess and monitor identified risks and controls within the organization. The solution includes modules for management of regulatory change, risk assessment, regulatory correspondence, review observations and overall consolidated risk calculation, while enabling cross modular linkages and comprehensive functionalities.
Commenting at the occasion Mr. Rehan Shaikh, Chief Executive Officer, Standard Chartered Pakistan said, “Our unwavering focus on managing risk and continued investment in building controls in an era of digitization and automation has led us to actualize this deployment. We are hopeful that the implementation of this comprehensive yet simplified solution will help the Bank grow its business sustainably, whilst effectively managing compliance processes and regulatory expectations.
On the occasion Taimur Kaleem, CEO of BenchMatrix, Pakistan said, “I would like to congratulate both teams on successful completion of the project. RiskNucleus® GRC will help to reduce the overall cost of compliance, fulfil regulatory requirements and eradicate operational gaps through automation of the Bank’s robust compliance framework.”
RiskNucleus® GRC solution is a web-based, modular fully configurable and integrated application that streamlines the process of Governance, Risk and Compliance, according to the organization’s needs.
BenchMatrix is now one of the leading solution provider for Governance, Risk & Compliance solution, serving almost 60+ clients globally with offices in Canada, KSA, UAE, Bahrain, Kuwait & Pakistan. It implements all its products with efficiency to ensure accelerated deployment timelines, owing to a vastly experienced staff in both, banking operations and project implementations globally.