Financial Services and Banks
Financial services firms and banks must manage and mitigate multiple regulations as a result of the changing demands of stakeholders, such as shareholders, regulators and credit rating agencies. The financial services sector was among the first industries that realized the importance of risk management. Being “in control” of their enterprise’s risk management and regulatory compliance is essential to the survival of a banking or insurance company in today’s dynamic economic climate.
More and more financial service organizations are using BWise to manage and mitigate compliance with financial regulations and serve stakeholders with more transparent insight into operations. BWise is used to assess and analyze risks as part of the corporation’s risk management diligence and administer governance programs such as, corporate policies and procedures, and legal and entity management.
Internal control regulations such as Sarbanes-Oxley in the United States and Bill 198 in Canada are being managed by our clients. On BWise Web TV and in our reference cases you can watch and read how our customers manage other industry specific regulations such as Basel II for European banks and the insurance regulations NAIC Model Audit Rule in the United States or Solvency II in Europe.
With the BWise integrated platform for ERM and GRC, clients are able to turn the burdens of compliance, risk management and corporate governance into a strong driver for compliance cost reduction, sound risk management and process optimization.