BWise
29.10.2012 09:32
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S-HERTOGENBOSCH, Netherlands and BANGKOK, Thailand, 2012-10-29 09:31 CET (GLOBE
NEWSWIRE) --
BWise, a NASDAQ OMX company and a global leader in Governance, Risk Management
and Compliance (GRC) software, announced today that Kiatnakin Bank,
headquartered in Bangkok, selected BWise to address its operational risk
requirements. In order to deliver local, high quality implementation services,
BWise coordinated the software implementation together with its regional
partner Yip In Tsoi & Co., Ltd, I.T. Consultancy in Thailand.
Kiatnakin (formerly known as Kiatnakin Finance and Securities Company Limited)
was found in 1971. In 2005 Kiatnakin began to officially operate as a
commercial bank under the name 'Kiatnakin Bank Public Company Limited.' The
bank's total assets are Baht 223,865 million. Currently, the Bank has eighty
branches throughout the country, including its headquarters in Bangkok. In
order to offer its risk department a comprehensive solution to efficiently
track, measure and manage its key operational risks, Kiatnakin investigated the
full landscape of available solutions. After a thorough analysis, the BWise GRC
platform, in combination with the implementation services of BWise and its
local partner Yip In Tsoi emerged as the best solution for Kiatnakin Bank.
Mr. Wanakan Kanjanasoon, VP at Kiatnakin, said, 'At Kiatnakin Bank we wanted to
improve the tools in use by the risk function in the bank, and wanted to
support the business units by offering easy to use software tools for their
registration, reporting and follow up actions on operational losses, risk
assessments, control testing, KRI reporting and alerting and risk scenario
distribution. Both the rich functionality and reporting capabilities of BWise
complied with our requirements. The best practice implementation approach of
BWise and Yip In Tsoi may help us gain more confidence in successful deployment
of the solution.'
Mr. Supak Lailert, Senior Executive Vice President Professional Services, Yip
In Tsoi, said, 'We are proud to have been rewarded the contract of Kiatnakin
Bank. Currently we see a lot of interest from banks in Thailand to improve
their risk control and reporting capabilities to regulators. Utilizing our
strategic partnership with BWise, we now can offer customers in Thailand
sophisticated, risk management software, recognized by independent analysts.
The Yip In Tsoi GRC competence center has been fully trained to implement and
service BWise's Governance, Risk management and Compliance platform in the
region. We expect more projects to follow.'
Rob van Straten, Senior Vice President of Sales EMEA and APAC at BWise, said,
'Kiatnakin Bank is an important customer for BWise and our strategic partner
Yip In Tsoi. We appreciate the bank's professional view on operational risk
management and are excited to present their project as a cornerstone reference
to the Thailand banking sector. We have been at their offices quite a few times
to ensure the project success and to further educate our partner Yip In Tsoi in
deploying professional GRC services. We are keen on developing our presence in
the financial and industrial sector in Thailand to help public and private
companies minimize risk, maximize efficiency and increase transparency with a
suite of governance, risk management and compliance solutions.'
About BWise
BWise, a NASDAQ OMX company, is the global leader in Enterprise Governance,
Risk Management and Compliance (GRC) software. Based on a strong heritage in
business process management, BWise delivers a truly integrated and proven GRC
platform.
With this platform, BWise supports an organization's ability to track, measure,
and manage key organizational risks in one integrated system. By doing so,
BWise helps customers to truly be in control by sustainably balancing their
performance and financial and reputational risks. BWise enables customers to
increase corporate accountability; strengthen financial, strategic and
operational efficiencies, maximize performance, and better understand risks.
Using BWise, organizations are able to comply with regulations such as
Sarbanes-Oxley, ISAE3402/SAS-70, PCI, Solvency II, Basel II and III,
Dodd-Frank, ISO-standards, European Corporate Governance Codes and many more.
BWise provides for the GRC needs of hundreds of customers worldwide, across all
industries. Customers include adidas, AEGON, Ahold, AngloGold Ashanti,
Connexxion, Health Alliance Plan (HAP) of Michigan, LeapFrog, Liebherr,
Marathon Oil, Southern Company, Swiss Life, and Transcontinental. BWise has
offices in the Netherlands, United States, Germany, France and the United
Kingdom. For more information, visit www.bwise.com.
The BWise logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=12977
About Yip In Tsoi
YIP IN TSOI & CO., LTD. is a leading provider of integrated solutions including
software, applications, hardware and consultation to its customers covering
broad base of industries with strong proof of success in leading industries
such as finance & banking, telecommunications, government sector and private
alike. The company also provides customers with complete IT services including
network maintenance, computer peripherals and accessories with quality service.
The company works with its customers to provide solutions that are best fit
their requirements, giving them competitive advantages and peace of mind.
Providing such solutions, Yip in Tsoi partner with top notched technology
providers worldwide. More information about our services, visit our web site at
www.yipintsoi.com.
About Kiatnakin Bank
Kiatnakin (formerly known as Kiatnakin Finance and Securities Company Limited)
was found in 1971. Later on in 2005, Kiatnakin began to officially operate as a
commercial bank under the name 'Kiatnakin Bank Public Company Limited'.
Kiatnakin is rated 'A-' with positive outlook by Tris Rating Company Limited.
This rating reflects stable business growth and strong capital base to
accommodate volatile economic conditions in the future. The Bank's Capital
Adequacy Ratio, as of June, 2012, is 14.01% based on Basel II. Total assets are
Baht 223,865 million. Currently the Bank has 80 branches countrywide (including
Headquarter in Bangkok).
Kiatnakin Group comprises Kiatnakin Bank Public Company Limited, Kiatnakin
Securities Company Limited (Bank holds 99.99%), Erawan Laws Office Company
Limited (Bank holds 99.99%) and Kiatnakin Fund Management Company Limited (Bank
holds 60.00%).
CONTACT: BWise, a NASDAQ OMX company
Maddy van den Berg
Marketing Department
Email: madeleine.vandenberg@bwise.com
Office: +31(0)73 646 49 15
News Source: NASDAQ OMX
29.10.2012 Dissemination of a Corporate News, transmitted by DGAP -
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DGAP-News: Kiatnakin Bank Selects BWise for Operational Risk Management
| Source: EQS Group AG