First Women Bank Ltd has gone live recently with RiskNucleus® GRC solution for the digitization of Compliance and Operational Risk Management processes. The solution is a comprehensive and well-integrated system that allows the stakeholders to effectively assess and monitor identified risks and controls within the organization. Amongst other things, the system will enable the organization to automate its risk monitoring activities to attain process efficiencies enabling the bank in meeting its regulatory requirements with ease.
Under the agreement, the solution will automate areas including regulatory compliance, observations, self-assessment, correspondence, compliance risk assessment, key indicators, internal control testing, breaches and penalties.
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