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Standard Chartered Pakistan selects RiskNucleus® GRC solution

Standard Chartered has joined the Global Digital Finance (GDF) Patron Board. Source: FILE.

KARACHI: Aimed at digitizing the compliance-risk management processes, Standard Chartered Bank Pakistan Limited (“SCBPL”) has selected the RiskNucleus® Governance, Risk & Compliance (GRC) solution, which is created and backed by the expertise of BenchMatrix.

Deployment of this fully configurable and integrated, web-based application reflects the technological-innovation and process advancement at Standard Chartered, with an aim to further strengthen controls culture through automation for identification, assessment, and management of compliance risk.

The implementation of this digitized solution will ensure compliance with SBP’s requirements to capture compliance risk at the business, function, and entity level.

Through advanced reporting and analytics, the bank will be able to provide actionable, real-time risk and compliance intelligence and data across the institution, which will further strengthen business performance, based on the risk-awareness and integrity.

Muhammad Mubbashir Yasin, Managing Director and Country Head of Conduct, Financial Crime & Compliance, SCBPL stated, “Regulatory-compliance remains the key agenda across SCB’s global operations and with this cutting-edge digital solution by BenchMatrix, the bank will be able to streamline cross-modular linkages and compliance processes to build data-driven and innovative compliance function effectively delivering the ever-changing business and client needs.

Taimur Kaleem, CEO, BenchMatrix stated that: “It is a matter of pride for us to be a leading solutions provider and a trusted technology partner for SCBPL and more than 100 implementations with 70+ other clients globally. We have successfully established offices in Canada, Saudi Arabia, UAE, Bahrain, Kuwait & Pakistan, to implement our wide range of products, with unmatched efficiency. BenchMatrix promises accelerated deployment timelines, as our staff has gained global experience of project implementation in financial institutions.