{"id":33921,"date":"2019-02-26T09:50:00","date_gmt":"2019-02-26T09:50:00","guid":{"rendered":"http:\/\/www.intelligentcio.com\/me\/?p=33921"},"modified":"2019-02-27T12:14:08","modified_gmt":"2019-02-27T12:14:08","slug":"cib-deploys-sas-enterprise-risk-and-anti-money-laundering-platforms","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/me\/2019\/02\/26\/cib-deploys-sas-enterprise-risk-and-anti-money-laundering-platforms\/","title":{"rendered":"CIB deploys SAS Enterprise Risk and Anti Money Laundering Platforms"},"content":{"rendered":"

Commercial International Bank \u2013 Egypt (CIB), the largest private sector bank in Egypt, has collaborated with SAS<\/a>, a leader in analytics, to deploy the latest technologies in Enterprise Risk Management (ERM) and Anti Money Laundering (AML).<\/p>\n

CIB\u2019s strategic partnership with SAS emphasises the bank\u2019s commitment to streamline its risk management processes and adhere to local regulations and global standards with regards to advanced analytical monitoring, reporting and an adequate control framework.<\/p>\n

With this achievement, CIB continues to be a pioneer of innovative technology and Digital Transformation and holds true to its mission of paving the future landscape for banking in Egypt and the region.<\/p>\n

At the signing, Talha Karim, Head of Risk Management, Risk Group at CIB, said: \u201cThe implementation of the SAS Engine for credit, market, and operational risk is aligned with CIB\u2019s strategic ERM initiative with the objective of a holistic and forward-looking approach to risk management, coupled with a robust risk appetite and risk culture framework.\u201d<\/p>\n

Alaa Youssef, Managing Director, Middle East at SAS, said: \u201cThe overall goal was to help CIB to effectively determine and manage the overall level of risk and compliance challenges.<\/p>\n

\u201cHaving a thorough understanding of CIB\u2019s business environment, and strategic roadmap, SAS is pleased to have enabled the bank to empower their processes with timely data-driven decisions while strengthening the needed capabilities with its ERM and AML platforms to provide the best value to all its stakeholders.\u201d<\/p>\n

The deployed Enterprise Risk Management solution ensures that the bank is leveraging the leading global techniques and standards in tracking its various risk types, including operational risk, market risk, as well as credit risk, while providing all the needed business intelligence and simulation mechanisms to empower timely and data insight driven decisions.<\/p>\n

The renowned SAS AML solution further strengthens CIB\u2019s capabilities for proper identification of unusual transactions and activities and effectively manages its compliance risks with effective, sustainable processes and controls in order to safeguard the bank\u2019s reputation as well as meet regulatory requirements leveraging advanced analytical algorithms and Machine Learning techniques.<\/p>\n

Emphasising on the strong capabilities offered by these solutions, Abla Khairy, Chief Compliance Officer at CIB, said: \u201cWith the deployment of this solution, we believe that the implementation of the SAS AML Engine will guarantee proper management of compliance and apply a risk-based approach which will assist to safeguard the bank\u2019s reputation and avoid any adverse actions of non-compliance.\u201d<\/p>\n

SAS hosted a project completion ceremony to commemorate this implementation in line with CIB\u2019s ERM initiative. Emphasising the uniqueness of this particular initiative, SAS recognised the efforts put forth by both the teams to make this project a success and presented CIB with its excellence and leadership award. The award was received by Mohamed Sultan, Chief Operating Officer, and Hanan El Borollossy, Deputy Chief Risk Officer.<\/p>\n","protected":false},"excerpt":{"rendered":"

Commercial International Bank \u2013 Egypt (CIB), the largest private sector bank in Egypt, has collaborated with SAS, a leader in analytics, to deploy the latest technologies in Enterprise Risk Management (ERM) and Anti Money Laundering (AML). CIB\u2019s strategic partnership with SAS emphasises the bank\u2019s commitment to streamline its risk management processes and adhere to local […]<\/p>\n","protected":false},"author":18,"featured_media":33924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1741,34,3624,5,3629,13,79],"tags":[8071,8070,112,8069,3715,4365,4366,427,5747,2933,678],"class_list":["post-33921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-finance","category-case-studies","category-case-study-newsletter","category-enterprise-security","category-newsletter","category-top-stories","category-used","tag-advanced-analytical-monitoring","tag-aml","tag-analytics","tag-anti-money-laundering","tag-bank","tag-cib","tag-commercial-international-bank-egypt","tag-egypt","tag-enterprise-risk-management","tag-erm","tag-sas"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/33921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/comments?post=33921"}],"version-history":[{"count":5,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/33921\/revisions"}],"predecessor-version":[{"id":33942,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/33921\/revisions\/33942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media\/33924"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media?parent=33921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/categories?post=33921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/tags?post=33921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}