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Erste Group Bank AG selects Nasdaq's BWise for Internal Audit, Internal Control and Finding Management processes

Nasdaq BWise (Nasdaq:NDAQ), a global leader in enterprise Governance, Risk Management and Compliance (GRC), announced today that it has been selected by Erste Group, one of the largest financial services providers in Central and Eastern Europe and headquartered in Austria, to support and further enhance their internal audit, internal control and finding management processes.

Erste Group, serving 15.7 million clients in over 2,700 branches, will look to add additional features and functionality to their group-wide Internal Audit and Findings Management processes. The internal control system repository powered by BWise will replace an existing solution with a more enhanced and sophisticated software platform.

"We are proud to have been selected by Erste Group," said Richard Jansen, Managing Director, BWise Germany GmbH. "Erste Group's objective to implement multiple GRC-related initiatives via one single standard software platform very much underlines the strength of the BWise products and services. Our GRC platform provides multiple role-based solutions for audit, risk management, information security and regulatory compliance which are integrated within the GRC platform and help departments across an organization to reduce GRC technology costs. We have been delivering successful projects in the D-A-CH region for many years in various sectors and I'm pleased to welcome a key player in the Austrian banking industry today."

The rich and complete functionalities, user friendliness and powerful reporting capabilities of the BWise solutions convinced Erste Group to select Nasdaq BWise as their trusted partner for their GRC journey to support each step of the internal audit and internal control cycle and eventually make them more time and cost efficient. In time, the potential of seamlessly adding new GRC initiatives coming from other departments to the same platform can be unlocked at any desired stage.

Erste Group is the leading financial services provider in the Eastern part of the EU. Approximately 46,700 employees serve 15.9 million clients in nearly 2,700 branches in 7 countries (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia, Serbia). As per Q3 2016, Erste Group had EUR 206.8 billion in total assets, a net profit of EUR 1.18 billion and a core capital ratio (CET1, Basel 3, phased-in) of 13.2%. 

Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 85 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of $10.0 trillion and approximately 18,000 corporate clients. 

BWise is part of Nasdaq's wider GRC offering designed to help organizations, public and private, improve their operational management. Thousands of users in virtually every industry rely on the BWise® risk management solutions to track, measure and manage their reputational and financial risks and support their GRC processes on a daily basis.