Standard Chartered Pakistan has selected BenchMatrix’s RiskNucleus® GRC with the goal to digitize the bank’s compliance risk management processes.
The implementation of this comprehensive solution will bring ease in meeting the SBP’s regulatory requirements (BPRD Circular Letter No. 07 of 2017) by holistically managing compliance processes. Through advanced reporting and analytics, the bank will be able to provide actionable, real-time risk and compliance intelligence across the firm, which will help enable them to strengthen business performance based on the firm source of risk awareness and integrity.
The solution includes modules for regulatory monitoring, risk assessment, key risk indicators, regulatory correspondence, observations & incident management, while enabling cross modular linkages and comprehensive functionalities.
Regulatory compliance being the Bank’s first priority, this solution will simplify the process of compliance risk management and enable the bank to comply with all regulatory requirements while focusing on strategic business objectives.
Standard Chartered Bank (Pakistan) Ltd. is the oldest and largest international bank in Pakistan.
It is also the first international bank to be awarded Islamic banking license and the first to open an Islamic banking branch. The bank serves Retail, Corporate, Commercial and Institutional Banking customers. The Bank employs over 2,800 people in Pakistan and has a network of 49 branches in 10 cities.
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 providers 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.