Optial today announced its platform has been implemented by Standard Chartered Bank to support its global compliance risk management framework. Standard Chartered has adopted the Optial platform as a global compliance management system to help track and manage compliance with regulations in the UK and other countries.
Optial was selected on the basis of its flexible platform, ability to meet current and future needs, scaleable web-based architecture and overall value for money. Over 1,300 users in over 10 countries are now live on the system and planning is underway to expand usage to a further 20 countries. Standard Chartered’s compliance risk management framework is a key part of the Bank’s commitment to high governance standards.
“As one of the world’s most international banks, leading the way in Asia, Africa and the Middle East, compliance risk needs to be well understood and transparently managed,” said Andrew Hunter, Group Head of Compliance and Regulatory Risk at Standard Chartered. “Optial allows us to link compliance control measures with applicable laws, regulations and policy standards, in the jurisdictions in which we operate, allowing us to proactively manage the compliance requirements of the Bank.”
“Optial provides a secure, flexible and scalable platform which is well suited to Standard Chartered’s global requirements for managing compliance,” said Chris O’Brien, CEO of Optial. “We are excited to be providing Standard Chartered with a high-quality solution for their compliance framework.”