Askari Bank in Pakistan has optimised its compliance and risk processes through automation to strengthen regulatory compliance by collaborating with SAS.
By using Governance & Compliance Manager (SAS GCM) Solutions from SAS, the bank aims to confidently address changing regulatory requirements, and ensure greater efficiency, effectiveness and transparency in performance.
The collaboration between Askari Bank and SAS was facilitated by The Risk Advisor (TRA), an independent global risk management consultancy that provides intelligence, investigations and security services.
Askari Bank caters to the commercial banking service industry of Pakistan. With more than 1.5 million customers, the bank continues to focus on growth by improving service quality, investment in technology and people.
As customers become increasingly comfortable with digitisation of banking services resulting in new regulations, the bank aims to overcome the challenge of achieving transparency across its operational risk and compliance environment specially Enterprise Compliance Risk Management area and offer more visibility to the leadership.
Streamlining processes through a single platform that can automate workflows, record, disseminate, follow-up and consolidate results is another priority to ensure team members are more collaborative and connected.
“Digitisation has become a priority for us and bank is continuously investing on this area. One of the most important things to bring continuous improvement through automations in our processes, where possible and improve our outputs” said Syed Ali Raza Zaidi, chief compliance officer at Askari Bank.
“Since collaboration is key to achieve this objective, technology solutions that align with our processes and regulations are also equally important to have the visibility we require and act accordingly,” he added.
SAS Governance & Compliance Manager (SAS GCM) Solutions are designed to create a risk and Compliance awareness culture within banks. SAS also offers solutions which include mix of Asset and Liability management, credit risk management, risk governance, insurance risk management and scenario-based analysis to identify opportunities and challenges within business operations.
