Banksys, the Belgian specialist in end-to-end secure payment systems and payment processing, has gone live with Optial to support their Operational Risk Management processes. Banksys has deployed the Optial system with a broad functional scope that includes loss database, operational risk self-assessments, controls, actions and audit management.
Machteld Agneessens, Head of Internal Audit at Banksys said âOptial has more than delivered on the expectations we had when we selected their solution. They met all our requirements for a risk management methodology and overall framework on a one to one basis. We will now be able to demonstrate to all our stakeholders including the Board, shareholders and customers that we are compliant with sound industry standards for Operational Risk Management practicesâ.
With nearly a billion payment transactions per year, Banksys carries substantial responsibility in the Belgian economy. The organisation therefore invests continuously in the availability of its network, which again reached 100% in 2005. Deploying Optial will add an additional layer in the Banksys operational risk management, bringing together all potential risks and being able to set priorities and focus on the biggest potential risks.
Ms Agneessens continued: âOptial has met our expectations through their approach, flexibility and functional richness. Optial approached the implementation in a very structured, professional, and patient manner. By doing so, Optial successfully delivered the project on schedule and within budget. The Optial system is particularly intuitive to use and after just one dayâs training we are able to make our own changes to the system as needed. These facets of Optial, particularly the user friendly, easy to use front end, strong workflow engine and highly configurable architecture, have ensured rapid user acceptance and enabled us to meet the diverse requirements for our operational risk methodology. We have also been very pleased with the risk self assessment facilities, the incident and loss event capture, action reporting and tracking together with the data export capabilities of Optialâ. Banksys also believes that the software will find its way within the company for other purposes and eventually can also be used for compliance management (of course with the necessary adaptations and implementation of additional requirements).
Chris OâBrien, CEO of Optial, said, âWe have been very pleased to work with Banksys, to prove the flexibility of the platform once again by delivering on schedule and budget for one of Europeâs leading payments processors. There were a number of key success factors in the project including strong senior executive support from the start, clear project management and above all the strong commitment and focus of all project members to succeed. Ultimately a prime success factor was that the flexible Optial platform was able to meet Banksysâ diverse requirements and beyond, proving the capability to adapt to a wide variety of operating environments, from global banking to high volume payments processing.â