Blom Bank automates operational risk with Wolters Kluwer’s OneSumX
Lebanon-based Blom Bank automates operational risk with OneSumX
Lebanon-based Blom Bank has signed for Wolters Kluwer’s flagship solution, OneSumX, for operational risk management. The project will be delivered by the vendor’s local partner, Advanced Financial Solutions.
OneSumX Operational Risk “automates and simplifies” the process of collecting, storing, analysing, tracking and reporting on information relevant to operational losses, risk and control assessments, says Wolters Kluwer.
At Blom Bank, “OneSumX will help manage programmes across the organisation including audit findings and regulatory change”, the vendor adds.
Antoine Lawandos, CIO of Blom Bank, comments that the solution offered by Wolters Kluwer matched the bank’s operational risk requirements.
“It is vital for us to demonstrate that we take all risks seriously and invest accordingly. Operational risk is no exception,” Lawandos states.
At the back-end, OneSumX will be integrated with Blom Bank’s long-standing core banking system, ICBS from BML Istisharat.
