Re: BCS Integrity and Deutsche Bank
February 09 2009 - 3:00AM
RNS Non-Regulatory
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Business Control Solutions Grp PLC
09 February 2009
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Tier one bank completes global roll-out of BCS early warning system
BCS Integrity drives transparency and control across 48 countries, more than one
million accounts
London, 9 February, 2009 - Business Control Solutions (AIM: BCT.L), provider of
management consultancy services and operational control software to the
financial services sector, today announced that its account substantiation
solution has been implemented at Deutsche Bank in the UK, Europe, Asia and the
Americas. This marks a significant milestone in the global roll-out of BCS
Integrity, which - after commencing in July 2008 - is now live at sites in 48
countries, including most of the bank's largest financial centres. The solution
will provide increased transparency of account ownership and early
identification of high risk balances - further reducing risk.
BCS Integrity has provided the bank with a common platform - with low cost of
ownership - that services both finance and operations, to drive ownership,
efficiency and transparency. All global account data is stored in a single
system, which means that management can quickly identify areas of concern for
immediate follow up.
"The longer something is left unresolved, the more likely it is to result in a
P&L impact," said Nigel Walder, CEO at BCS. "This level of visibility, due
diligence and control is essential to better mitigate risk in today's volatile
and complex environment, particularly in light of increased regulator and
shareholder scrutiny."
Account substantiation shows the results of reconciliation, ensuring that
account balances are complete, accurate and verified. BCS Integrity manages and
standardises the reporting of the account substantiation process, enabling the
bank to take a consolidated view and identify potential problems across
functions, asset classes and regions.
As the central platform for the automated aggregation and reporting of
consolidated global data, BCS Integrity facilitates greater efficiencies across
departments - speeding up account sign-off operations. The solution has
eliminated a number of manual tasks as well as issues caused by disparate
regional systems.
Deployments of BCS Integrity in Australia, New Zealand, Japan and Germany are
also due to complete in the first half of 2009, bringing the total number of
accounts processed by Integrity to 1.25 million.
Integrity provides audit trails over the end to end account sign-off process.
The account ownership tools mean there can be no ambiguity over the account
status or the person accountable. It provides a controlled route for over 3,000
users, managers and financial directors to highlight concerns and generate
accurate reporting. Instant access to balances and P&L exposure enable
management to quickly address any high risk issues and make decisions based on
timely information.
- Ends -
About Business Control Solutions
Business Control Solutions is a provider of management consultancy services and
operational control software to the financial services sector. Its people have
operated at senior levels in global organisations and this experience and domain
expertise helps its clients to achieve fast-track solutions to difficult and
complex problems. Its commitment to successful delivery has resulted in
long-term, trusted relationships with its clients, which include six of the
world's top ten banks.
The management consulting division has delivered comprehensive business
transformation programs within finance, risk, IT and operations across both the
buy- and sell-side. Its innovative technology solutions are designed by industry
practitioners to embed control within operational functions and give senior
management real time transparency on issues and risks.
Business Control Solutions is based in London, with development centres in
Peterborough and Romania and is listed on the Alternative Investment Market
(AIM) as BCT.L.
For more information on Business Control Solutions please visit www.bcsplc.com
Press contacts
Flora Wilke or Nick Bird
Metia
Tel: +44 (0) 20 3100 3500
Email: flora.wilke@metia.com or nick.bird@metia.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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