[Jan 21, 2020] We are pleased to announce that BenchMatrix has accomplished one more milestone, after catering to customized requirements and performing a thorough testing cycle, the implementation process of RiskNucleus ERM Solution (CAR) has been successfully completed at Faysal Bank. The collaborative efforts of the Bank’s and BenchMatrix’s teams proved constructive in the breakthrough.
The module will assist the bank in automating its capital adequacy ratio calculation process and internal MIS through a configurable model builder. It will also ensure compliance with the regulatory authority requirements by generating the required prudential reports.
Faysal Bank Limited was incorporated in Pakistan on October 3rd, 1994 as a public Limited company under the Companies Ordinance, 1984. The Bank’s shares are listed on Pakistan Stock Exchange. Faysal Bank is mainly engaged in Conventional and Islamic Corporate, Commercial and Consumer banking activities. The Pakistan Credit Rating Agency Limited (PACRA) and JCR-VIS Credit Rating Company Limited have determined the Bank’s long-term rating as ‘AA’ and short term rating as ‘A1+’.
Faysal Bank’s footprint now spreads over 150 cities with 475(including 284 Islamic) branches. With total assets of PKR 589.277 billion, placing it amongst the significant players in Pakistan’s banking industry. Faysal Bank’s ambition is to provide par excellence service to its customers while meeting their financial needs.
BenchMatrix is a leading advisory services and automated Governance, Risk & Compliance (GRC) technology provider with a focus on developing practical and effective solutions for organizations. The team has several full cycle implementation experiences in multinational organizations with success stories in France, Canada, Malta, Turkey, Bahrain, Qatar, Saudi Arabia, UAE, Kuwait, Pakistan, Algeria, and Tunisia.