Governance, Risk & Compliance

Governance, Risk & Compliance

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April 25, 2011

PIC Solutions Launches New Software to Help Banks Assess Financial Risk



At a time when banks are living with the threat of failure in the face of growing recessionary trends, South Africa’s banking software vendor has unveiled a new solution that helps retail and consumer lending institutions to better understand their current risk management capabilities.

The software, launched by Cape Town-based PIC Solutions, allows banks to compare themselves with competitor organizations as well as most sophisticated and successful organizations globally.

Once they understand their risk management capabilities, banks can use that information to devise their course of action accordingly and learn how to achieve sustainable growth.

The output from the process and the matrix can be utilized to develop a roadmap with recommendations for improvement.The roadmap will be aligned against PIC Solutions’ understanding of the organization's wider business imperatives and prioritized based on PIC Solutions' experience of the typical evolution of risk management functions and expectation of the benefits that might be gained from each.Ian Read, Director of PIC Solutions International, based in Dubai, said, "Our clients often mention that they are so focused in addressing immediate priorities that they find it challenging to devote the time to consider where they should be taking their risk capabilities strategically. This is a recurring issue in the region and PIC Solutions is uniquely qualified to assist, combining the global experience of our consultants with the regional knowledge gained in hundreds of GCC consulting assignments."


Narayan Bhat is a contributing editor for TMCnet. To read more of Narayan’s articles, please visit his columnist page.

Edited by Rich Steeves
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