Saudi Arabia based Saudi Hollandi Bank has added operational risk management, internal audit and compliance management platform from BWise, a Netherlands-based compliance and risk management group.
The bank said that adoption of the new system, has enabled to consolidate different business processes into one integrated way of working, aligning operational risk management, internal audit and compliance management.
Saudi Hollandi Bank head of operational risk Fadhel Al-Munasif said the banking industry must be able to meet the different regulation of the region, where it operates.
"The different business processes are streamlined with each other but still taking into account that we need to handle three different roles. We appreciate that the BWise team has implemented the software for their pragmatic and no nonsense approach while also respecting the bank’s way of working and culture," Munasif said.
BWise sr vice president sales Rob van Straten said, "BWise has already successfully implemented the BWise GRC platform in a number of countries in the Middle East region."
Saudi Hollandi Bank caters a number of products and services to corporate- and institutional customers.
BWise provides for the GRC needs of hundreds of customers, globally, across all industries with offices in the Netherlands, US, Germany, France and the UK.