How Sasfin Bank Ltd Used IsoMetrix Software to Mitigate Risk and Maintain its Competitive Edge
Customer Company Size
Mid-size Company
Region
- Africa
Country
- South Africa
Product
- IsoMetrix Enterprise Risk Management (ERM)
Tech Stack
- Risk Management Software
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Cost Savings
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Services
- System Integration
About The Customer
Sasfin Bank Ltd, headquartered in Sandton, Johannesburg, South Africa, is a comprehensive provider of specialist financial products and services for Business and Wealth clients. The bank focuses on the needs of entrepreneurs, corporates, institutions, and high-net-worth individuals. Founded in 1951 and listed on the Johannesburg Stock Exchange (JSE) in 1987, Sasfin has grown to a company size of 740 employees. As one of South Africa’s most distinguished and renowned finance companies, Sasfin sought to implement a market-leading software system that would centralize its risk management information and processes, and save time on its risk-related reporting.
The Challenge
Sasfin Bank Ltd was facing challenges in managing its risk across 10 key areas including Operational risk, Business risk, Credit risk, Market & Investment risk, Capital Management risk, Funding & Liquidity risk, Reputational risk, and IT & Cyber risk. The bank was using outdated manual methods like Excel spreadsheets which were proving to be insufficient. The bank was also facing limitations in reporting due to its largely manual processes. The risk data was siloed and segmented throughout the company, making reporting a time-consuming manual process.
The Solution
Sasfin implemented IsoMetrix software to create a central platform and administer an integrated approach to managing its risks. The roles-based system access of IsoMetrix enabled Sasfin to increase its coverage and risk visibility, and improve the efficiency and effectiveness of its risk processes. The range of IsoMetrix’s system dashboards have been an incredibly useful tool in improving risk visibility throughout the company. Sasfin now uses the IsoMetrix system to log all risk events/incidents across all risk types within the organization, as well as conducting risk assessments within the system. With all risk-related data now being stored in a central database and available at the click-of-a-button, reporting is now far quicker and easier for the manager and their colleagues at Sasfin.
Operational Impact
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