[Jul 16, 2019] Allied Bank successfully implements RiskNucleus® Operational Risk Management solution across all its branches. The solution will enable the Bank to automate its Operational Risk activities including loss reporting, Key risk indicators, Risk and Control Self-assessments and tracking of action plans. It will additionally provide the bank the functionality to configure workflows and assign rights to the system users to ensure a structured way of tracking/managing operational risk events.
Allied Bank is a commercial bank in Pakistan. Allied Bank, with its registered Office in Lahore, is one of the largest banks within the country with over 1300 branches and ATMs and revenue of exceeding PKR 70 billion. It was the first Muslim bank established in Pakistan before independence (1942) with the name of Australasia Bank. It was named as Allied Bank of Pakistan from Australasia Bank Limited in 1974, and Sarhad Bank Ltd, Lahore Commercial Bank Ltd and Pak Bank Ltd were also merged in it.
RiskNucleus® is a web-based, modular fully configurable and integrated application that streamlines the process of Operational Risk Management, Governance and Compliance, Enterprise Risk Management, Credit, Market & Liquidity Risk Management, Anti-Money Laundering, Business Continuity Planning and Online Training according to the organization’s needs.