May 2018: NIC Group PLC, one of the leading banking groups in the East African region has partnered with RiskLogix to deploy its, innovative world class Enterprise Risk management system, aCCelerate GRC.
It is the first banking group to deploy RiskLogix’ GRC platform within their Cloud based environment in Africa.
NIC Group incorporated in Kenya, is at the forefront of driving innovative banking solutions, aimed at delivering convenience and efficiency for its customers as well as streamlining operations and driving cost reduction for the bank.
Mr. John Gachora, NIC Group’s Managing director, said ’One of the priorities for NIC Group PLC has been to focus on robust risk technology, providing the Group with a consolidated view of its risks and controls across its business lines and countries within the diverse regional entities it operates in.
An effective risk management system is designed as a tool to dramatically reduce time spent on collection of data and empower users at all levels to spend less time documenting and reviewing, and more time providing value-added services and also facilitates efficient collaboration with regulators.
The aCCelerate GRC solution has depth of functionality covering Risk Control Self Assessments, Key Risk Indicators, Internal Loss Data Management plus Risk Intelligence tools, and this, coupled with the impressive speed and agility of RiskLogix’ implementation process and their partnership approach, made them the clear winner in our selection process.’
John Kiddy, CEO of RiskLogix said ‘We are very excited to be working with NIC Group PLC. Their track record of innovation, success and commitment to the highest values make them a highly prestigious addition to our already broad client base in Africa which is a key region for RiskLogix.
There is, in our view, a clear commitment from the Central Banks and other regulators within the African banking community to provide and implement sound risk management practices. With aCCelerate GRC’s market leading flexibility and functionality, we are uniquely positioned to provide significant value and to assist African banks, and other financial institutions, to meet their risk management objectives through the rapid deployment of scale-able risk management systems.
About RiskLogix (www.risklogix-solutions.com) RiskLogix is a dynamic risk management solutions provider headquartered in the UK. With its deep domain experience in enterprise risk management, its solutions include its award-winning risk-centric software aCCelerate GRC, as well as risk Intelligence tools aCCelerate Scenario and aCCelerate Capital. RiskLogix also provides risk management consultancy and training.
With a strong established global client base, the aCCelerate suite incorporates leading frameworks such as Basel II, COSO, SOX, Solvency II, and ICAAP. It is a combination of a highly-effective modern architecture and inbuilt reporting capabilities. The solution enables the measuring and managing of RCSA, Incident and event management, Key indicators, reporting, scenario analysis thereby providing a market-leading, user-intuitive approach to GRC management.
For further press information, please contact:
Rohini Uppal
Director
Email: rohini.uppal@risklogix-solutions.com
About NIC Group PLC (www.nicgroup.com) NIC Group PLC is a full-service bank with 42 branches in Kenya, 5 branches in Tanzania, 3 branches in Uganda and awarding-winning digital banking solutions in the region. Incorporated in Kenya in 1959, the Bank’s evolution from an asset finance non-bank financial institution to a regional full-service bank has been driven by its unwavering commitment to superior customer service and high corporate governance standards. Listed on the Nairobi Securities Exchange with approximately 26,000 shareholders, the Group’s growth can be seen in the rapid expansion of its balance sheet and market capitalization.
The Group has also established Strategic Business Units that facilitate the provision of a complete suite of financial products and services. These are NIC Capital (Investment Bank); NIC Securities (Stock Brokerage); NIC Insurance Agents (Bancassurance) and NIC Leasing PLC. The Group encourages its stakeholders to visit its website, which has regularly updated financials, press releases, its product portfolio and other important information about the Group.
For further press information, please contact:
Emily Kinuthia
General Manager: Marketing, Communication & Citizenship
Email: Emily.Kinuthia@nicgroup.com
Twitter: @nicbankkenya
Facebook: www.facebook.com/nicbankkenya/
