British Arab Commercial Bank (BACB) is a UK regulated bank with over 40 years’ experience providing finance to developing marketings. With expertise in international business, BACB helps companies to succeed through international trade and investment.
Having historically used spreadsheets to capture, monitor and report on risk across the business, BACB identified the need for change. Xactium was selected to embed an automated solution that would improve efficiency as well as provide a secure central platform for consolidating and analysing risk information.
An important factor for BACB when selecting such a solution, was the ability to produce meaningful Management Information (MI) that could be easily shared with executives.
Xactium’s in-built analytics tool, in addition to its powerful reporting capability, will enable BACB to analyse risk data and gain advanced insights across the whole business, that would not have been possible using spreadsheets. By doing so, the risk team and risk owners will be in a much stronger position to influence decisions and prioritise resources.
Once Xactium Risk has been successfully rolled out across the organisation, BACB also plan to expand their Xactium suite to include Xactium Compliance. This system, which integrates with Xactium Risk, will provide the business with valuable support for all core compliance activity including control testing, regulatory tracking and policy management.
Ross McNay, Head of Operational Risk at BACB comments:
“We reviewed a number of solutions and found Xactium to provide the tool that best helps contribute to the enhancement of service to our clients whilst providing a robust risk & control environment within which to do business.”
Andy Evans, Xactium Manager Director adds:
“We are looking forward to working closely with BACB over the coming year on a phased roll out of our Risk and Compliance applications. We are particularly pleased to be supporting BACB in their commitment to achieving environmental best practice by providing them with a cloud-based risk solution which offers significant environmental benefits.”
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