Recent Activities and Events

Khushhali Microfinance Bank Limited Selects BenchMatrix’s RiskNucleus Governance and Compliance Solution to meet regulatory requirements - Mar, 2018


Khushhali Microfinance Bank Limited has selected BenchMatrix to implement an automated regulatory Compliance Management System that would help them ensure comprehensive enterprise-wide compliance effectively.

RiskNucleus® Compliance Management System’s implementation will enhance the monitoring of regulatory compliance policy through a complete automated rule book library mapped to key activities within the organization and enable effective compliance risk management, observation management and self-assessment.

Commenting on this, Ghalib Nishtar, President & CEO , Khushhalibank, said: “Khushhalibank is actively pursuing and investing in technology and solutions that strengthen Governance & ensure high degree of compliance ”.


NRSP Microfinance Bank leads the industry with automation of Anti-Money Laundering through Bench Matrix Risk Nucleus - Dec, 2017


NRSP Microfinance Bank Limited and BenchMatrix are progressing ahead towards the automation of the Bank’s Anti-Money Laundering initiatives with the help of implementing Risk Nucleus® Anti-Money Laundering (AML) system. The system will allow the company to successfully manage screening of customers, transactions, employees and more against sanctions list. It will ensure effective KYC/CDD review, perform customer risk assessments, monitor transactions through a fully configurable scenario manager and alert workflow module, and automate SAR and CTR reporting. It will also maintain necessary documents, and generate required reports.


Faysal Bank appoints BenchMatrix for automation of Regulatory Compliance, Enterprise Risk Management and Risk Ratings - Dec, 2017


Faysal Bank Limited, one of the leading banks of Pakistan has selected BenchMatrix to implement an automated Compliance Risk Management, Enterprise Risk Management and Risk Rating (ORR/FRR) System. This would help Faysal Bank to ensure comprehensive enterprise-wide compliance effectively along with regulatory reporting related to CAR, LCR & NSFR and workflow based automation of Risk Rating in its Loan Origination process.

RiskNucleus® Regulatory Compliance will enhance the monitoring of Faysal Bank’s compliance program through a complete, automated and up-to-date rule book library mapped to analysed the key activities within the organization and enable compliance risk management, observation management and self-assessment.

RiskNucleus® Enterprise Risk Management will also offer comprehensive functionalities to ensure that Faysal bank is adequately prepared to manage enhanced data maintenance and risk reporting requirements. The project covers Capital Adequacy Ratio, LCR, NSFR and other Liquidity Monitoring Tools.

Furthermore RiskNucleus® Risk Rating Engine will allow Faysal Bank to calculate ORR & FRR for its corporate, commercial and SME clients through a work flow based, configurable Risk Rating Engine. The system will be integrated with the Loan Origination System of the Bank in Real-time.


Samba Bank choses BenchMatrix’s RiskNuclues Governance and Compliance Solution to meet the Regulatory Requirements - Nov, 2017


Samba Bank Limited is a majority owned subsidiary of Samba Financial Group of Saudi Arabia. The bank has selected BenchMatrix to implement an automated regulatory compliance management system in 37 branches that would help them ensure comprehensive enterprise-wide compliance effectively.

With this implementation, the bank will enhance monitoring of regulatory compliance policy through a complete, automated and up-to-date rule book library mapped to key activities within the organization and enable compliance risk management, observation management, self-assessment, and correspondence.

With the growth in the Bank’s customers and branches, and the recent Guidelines on Compliance Risk Management issued by the regulator, Samba Bank hopes to utilize RiskNucleus® Compliance Risk Management Solution to strengthen its framework ensuring effective management through automation of its key processes.


Bank of Khyber Digitalization with BenchMatrix’s RiskNucleus® Operational Risk Management - Oct, 2017


Bank of Khyber (BOK) and BenchMatrix are working together to move towards successful digital transformation and automation of the Bank’s Operational Risk Management (ORM) framework by implementing RiskNucleus® Operational Risk Management across its network of over 165 branches in Pakistan. With roll-out expected in November, this system will allow the bank to successfully manage risk and meeting regulatory requirements while lowering the associated costs. It will also simplify the process of loss data collection and analysis, and strengthen risk monitoring and measurement through the Risk and Control Self-Assessment (RCSA) and Key Risk Indicator (KRI) monitoring modules.

In addition to the system implementation, BenchMatrix is also assisting BOK in aligning of its current ORM Framework with industry best practice and regulatory requirements. This includes updating the operational risk policy, procedures and committee mandate, conducting RCSA and setup of KRIs for the support and business units of the Bank


Soneri Bank Digitalization with BenchMatrix’s RiskNucleus® Consumer Loan Origination System - Oct, 2017


Soneri Bank Limited is automating its Consumer Loan Origination process by implementing BenchMatrix’s RiskNucleus® Consumer Loan Origination system across its network of over 285 branches Pan-Pakistan. This system will transform the bank towards a paper-less environment and enhance efficiencies with quick turn-around time (TAT) and enhanced customer experience. The system will also improve process reliability by providing the Bank with more robust system-based controls in the loan review and approval request cycle.

Soneri Bank with its recent strategic alliances with BenchMatrix’s RiskNucleus® brings together the combined expertise of the companies on one common platform, with mutual goals for successful digital transformation.


8th Bank in Bahrain selects Compliance solution of BenchMatrix's to manage regulatory requirements - Aug, 2017


The bank has selected to implement an automated regulatory compliance management system that would help them ensure comprehensive enterprise-wide compliance effectively.

With this implementation, the bank will enhance monitoring of regulatory compliance policy through a complete, automated and up-to-date rule book library mapped to key activities within the organization.

This implementation comes on the heels of 7 other successful implementations of BenchMatrix’s compliance management product at leading organizations in the Bahrain, suggesting that organizations are increasingly looking towards automation to manage growing complexity in the regulatory environment.


A Leading Financial Institution in Kingdom of Saudia Chooses BenchMatrix’s Compliance and AML Solutions to Meet Regulatory Requirements – Jul, 2017


As organizations increasingly look towards automation to manage growing complexity in the regulatory environment, BenchMatrix offers a comprehensive yet cost-effective solution to meet these emerging challenges.

Following 7 years of product implementation success in the broader MENA region, BenchMatrix has expanded its reach to Saudi Arabia with the implementation of RiskNucleus© Compliance and Anti-Money Laundering at a wholly-owned company of a major Saudi bank.

With this implementation, the financial institution seeks to simplify regulatory compliance monitoring and enable automated transaction monitoring, watch list screening, customer risk assessment and KYC review to both fulfill its regulatory requirements and protect itself from legal, regulatory and reputational risks arising from money laundering.


Meezan Bank selects BenchMatrix’s RiskNucleus® to Automate Financing Origination and Approval Framework across 500+ Branches – Mar, 2017


Meezan Bank, Pakistan’s first and largest Islamic bank has selected BenchMatrix Solutions W.L.L. - a Bahrain-based advisory services and software solutions provider for implementation of its state-of-the-art Financing Origination System (FOS). The application, namely, Risk Nucleus® Financing Origination System, shall automate the end-to-end cycle of financial request review and will be implemented at Meezan Bank’s 571 branches across Pakistan. Implementation of this automated work-flow-based system will accelerate Meezan Bank’s financing approval process by digitizing the currently used manual system and allow the Bank to go paperless. It will also improve process efficiency levels by providing the Bank with more system-based controls and reducing the overall time it takes for taking a decision on a financing request.


Samba Bank Pakistan moves towards automation of Retail Credit Loan Origination through BenchMatrix’s RiskNucleus© LOS Product – Jan, 2017


Samba Bank Limited, a majority-owned subsidiary of the Riyadh-based Samba Financial Group, has selected BenchMatrix’s Retail Loan Origination System (LOS) to automate its consumer lending process at all 37 of its branches and moving towards a fully paper-less environment.

By automating the consumer lending process, the bank seeks to bring about improvements in its consumer lending and risk management process by enhancing internal and regulatory limit management, simplifying documentation management and collateral assessment, strengthening internal policy management and substantially reducing turn-around-time for loan applicants.


Allied Bank Selects BenchMatrix’s RiskNucleus® Governance and Compliance Solution to Meet Rising Compliance Management Needs - Lahore, Pakistan – May, 2016


BenchMatrix welcomes the opportunity to work with one of the largest banks in Pakistan to modernize and strengthen governance and compliance management practices in the region

Bahrain-based BenchMatrix Solutions W.L.L., a leading advisory services and software solutions provider, has been selected by Allied Bank Limited (ABL), one of the 5 largest Pakistani banks, to implement its signature compliance management solution across the bank’s 1000 plus branches.

As the bank’s customer base, branches, products and services grow, ABL hopes to use RiskNucleus® Governance & Compliance to further strengthen its compliance management framework ensuring effective management of the ever-increasing regulatory compliance.

BenchMatrix also views this as a critical opportunity to revolutionize the way compliance is managed in the region. To achieve this end, BenchMatrix and ABL will collaborate to develop and implement comprehensive functionalities to manage and maintain SBP regulatory guidelines, inspections and ad hoc assessments along with the ability to monitor compliance KPIs and conduct control testing.


Benchmatrix’s Credit Risk Management Solution Is Live And Operational In NIB Bank Limited - Apr, 2016


BenchMatrix with the consent of NIB Bank’s management has successfully implemented RiskNucleus® Credit Risk Management Solution (RAPID) in NIB Bank Limited.

Established in 2003, NIB Bank is one of the largest foreign banks in Pakistan with an extensive branch network spread over 52 cities across the country. It is also one of the largest corporate entities of the country with a paid up capital of over PKR 103 billion.

With the roll-out of the application, the bank will successfully streamline the process of credit request’s origination, review and approval through this web based, fully configurable and integrated application. RiskNucleus® CRM RAPID is now live and operational in NIB Bank’s 170 plus branches for over 17 months .

The Scope of the RiskNucleus CRM encompasses both the Corporate and Investment Banking Group (CIBG) and the Commercial Banking Group (CBG) of NIB.

RiskNucleus Credit Risk Management (CRM) module will enable the Bank to process multiple loan types electronically through a single system, using multiple channels


Benchmatrix Risknucleus® ORM Successfully Deployed At Maltese Banking Group - Mar, 2016


A leading provider of trade finance, factoring and forfaiting solutions in Malta has successfully implemented BenchMatrix’s RiskNucleus® - Operational Risk Management solution to further strengthen its operational risk management framework.

Based in Malta, FIM Bank plc. is a leading provider of trade finance, factoring and forfaiting solutions. The FIM Bank Group has a global presence through its subsidiaries, branches, and sales and representative offices in Europe, North and South America, the Middle East, Russia, and South and South-East Asia. In 2013, the group became part of the Kuwaiti conglomerate KIPCO Group.

With the roll-out of the application in February, the bank hopes to simplify the process of loss data collection and analysis, conduct structured internal control testing, and strengthen risk monitoring and measurement through the RCSA and key indicator monitoring modules.


Benchmatrix Risknucleus® ORM Successfully Deployed At The Bank of Bahrain and Kuwait (BBK) - Mar, 2016


A leading provider of Banking, Financial and Investment services in Bahrain has successfully implemented BenchMatrix’s RiskNucleus® - Operational Risk Management solution to further strengthen its operational risk management framework.

BBK, formerly known as The Bank of Bahrain and Kuwait B.S.C, was established on 16th March 1971 in accordance with the Amiri decree and started operations a year later. BBK has been the pioneer in Commercial Banking for 41 years in the Kingdom of Bahrain.

With the roll-out of the application in February, the bank hopes to simplify the process of loss data collection and analysis, conduct structured internal control testing, and strengthen risk monitoring and measurement through the RCSA and key indicator monitoring modules.


Large Kuwaiti Bank Successfully Deploys Benchmatrix’s Risknucleus® ERM & Basel III Engine - Feb, 2016


One of the premier banks of Kuwait has successfully implemented BenchMatrix’s RiskNucleus® - Enterprise Risk Management & Basel III solution to enable group-wide risk data consolidation and facilitate regulatory and internal risk reporting

Established in 1977, Burgan Bank K.S.C. is the third largest bank in terms of assets in Kuwait and comprises of five majority owned subsidiaries strategically located across 7 countries in the MENAT region.

With the roll-out of the application in February, data from the bank and its subsidiaries in Turkey, Algeria, Jordan, Tunisia, Lebanon and Iraq will be aggregated into RiskNucleus Datamart. The bank can then simply extract reports through the integrated and fully configurable Basel III and risk reporting engine.


Large Kuwaiti Bank Successfully Implements Benchmatrix’s Risknucleus® ORM solution - Feb, 2016


One of the premier banks of Kuwait has successfully implemented BenchMatrix’s RiskNucleus® - Operational Risk Management solution to further strengthen its operational risk management framework.

Established in 1977, Burgan Bank K.S.C. is the third largest bank in terms of assets in Kuwait and comprises of five majority owned subsidiaries strategically located across 7 countries in the MENAT region.

With the roll-out of the application, the bank hopes to simplify the process of loss data collection and analysis, conduct structured internal control testing, and strengthen risk monitoring and measurement through the RCSA and key indicator monitoring modules


Soneri Bank Limited Implements BenchMatrix’s CRM Solution - Jan, 2016


BenchMatrix has successfully implemented RiskNucleus® Credit Risk Management (CRM) Solution in Soneri Bank Limited. The CRM solution enables the management to operate in a paper-free environment for credit initiations, review and approvals.

Incorporated in 1992, Soneri Bank Limited is a mid-sized Pakistani commercial bank with 260 branches in all major cities of the country.

With the roll-out of the application, the bank aims to streamline the process of credit request’s origination, review and approval through this web based, fully configurable and integrated application.

RiskNucleus® CRM is now live and operational in over 82 Soneri Bank branches for 6 months.


Algeria Gulf Bank Implements BenchMatrix’s ORM Solution - Jan, 2016


BenchMatrix has successfully implemented RiskNucleus® Operational Risk Management (ORM) Solution in Algeria Gulf Bank. The ORM solution enables the management to further strengthen its operational risk management framework

Algeria Gulf Bank S.p.A. offers banking services including loans and depositary services. The bank was founded in 2002 and is based in Algiers, Algeria. As of May 5, 2009, Algeria Gulf Bank S.p.A.

With the roll-out of the application, the bank hopes to simplify the process of loss data collection and analysis, conduct structured internal control testing, and strengthen risk monitoring and measurement through the RCSA and key indicator monitoring modules


Faysal Bank Successfully Implements BenchMatrix’s ORM Solution - Dec, 2015


BenchMatrix has successfully implemented RiskNucleus® Operational Risk Management (ORM) Solution in Faysal Bank. The ORM solution enables the management to further strengthen its operational risk management framework

Faysal Bank Limited (FBL) was incorporated in Pakistan on October 3, 1994, as a public limited company under the Companies Ordinance, 1984. Faysal Bank is engaged in Corporate, Commercial, Retail and Islamic Banking activities.

With the roll-out of the application, the bank hopes to simplify the process of loss data collection and analysis, conduct structured internal control testing, and strengthen risk monitoring and measurement through the RCSA and key indicator monitoring modules


NIB Bank Adopts BenchMatrix’s Compliance and Governance Solution - Nov, 2015


BenchMatrix has successfully implemented RiskNucleus® Compliance Solution in NIB Bank. RiskNucleus Compliance and Governance Solution allows organizations to comply with internal and external policies.

Established in 2003, NIB Bank is one of the largest foreign banks in Pakistan with an extensive branch network spread over 52 cities across the country. It is also one of the largest corporate entities of the country with a paid up capital of over PKR 103 billion.

With the roll-out of the application, the bank hopes to consolidate compliance, policy and training management processes in a single application.





Subscribe

Subscribe

NEWSLETTERS

Big business responds to disruption with VC

Corporate venture capital is growing, and there are now 1,300 corporate venture funds worldwide, according to our report, The Innovation Paradox

Clients