Siam Commercial Bank Selects NASDAQ OMX’S BWise to Enhance their Internal Audit, Risk Management, Compliance and Business Continuity Management
Bangkok, Thailand and ‘s-Hertogenbosch, Netherlands, September 3, 2013 – BWise, a NASDAQ OMX company and a global leader in Governance, Risk Management and Compliance (GRC) software, today announced that it has been selected by Siam Commercial Bank (SCB), Thailand's third largest commercial bank, to deliver and implement the BWise eGRC platform to support SCB with the automation and integration of their initiatives for Internal Audit, Risk Management, Business Continuity Management and Compliance.
“We are very proud to have been selected by SCB to support their ‘GRC Journey,’” said Sebe Gerritsen, Regional Director Asia, BWise. “Their integrated approach towards Internal Audit, Risk Management, Compliance and Business Continuity Management is mature and sophisticated and requires a robust but flexible eGRC software platform. Our global expertise and many years of experience in deploying eGRC software in banking, combined with our local presence through our competent Thai partner Yip in Tsoi, allow us to provide SCB with a first-class GRC solution.”
“With its strong expertise, we believe BWise will be able to provide a truly integrated, out-of-the-box but very flexible platform which can be configured to fit our specific needs and to also enhance our Internal Audit, Risk Management, Compliance and Business Continuity Management platform efficiency,” said Dr. Ellen Nora Ryan, Head of Market and Operational Risk, Risk Management Group, SCB.
“Large financial institutions and enterprises in Southeast Asia are now faced with a highly regulated environment combined with local standards,” said Rob Van Straten, Senior Vice President, BWise. “Our commitment to the region is underscored by the recent opening of our Bangkok office to deliver our integrated GRC approach to customers to efficiently achieve compliance and control over their financial and reputational risks. SCB is our second banking customer in Thailand and we expect to initiate more Asian projects in the near future.”
From left to right: 1. Mr. Nuttavuth Punpugdee (SCB, Manager, Change Program Management Office), 2. Mr. Joseph Fincher (YIP IN TSOI, Head of SMO), 3. Mr. Roel Spies (BWise, Senior Project Manager), 4. Dr. Ellen Nora Ryan (SCB, Head of Market and Operational Risk), 5. Mr. John James Mcleary (SCB, Head of Operational Risk Management), 6. Mr. Chinnarat Boonmahanark (SCB, Division Head, Audit Division)
About Siam Commercial Bank
Siam Commercial Bank PCL is one of Thailand's leading universal banks. Established by Royal Charter in 1906 as the first Thai bank, it has the highest market capitalization among Thai financial institutions as of June 30, 2013 (Baht 584.6 billion). It offers the nation's largest network of branches (1,154), exchange booths (108), and ATMs (8,872), attesting to its dominant positions in the retail financial service marketplace. Its clientele includes a diverse range of corporate, SME, private, and retail customers nationwide. The Bank's total asset size is Baht 2,441.3 billion as of June 30, 2013. Further information is available on the Bank's website at www.scb.co.th