Case study: Banking

Client:

A very large Private Bank formed in India in partnership with an European multinational bank.

Implementation environment:

Client wanted a solution that would help manage the overwhelming amount of documentation and paperwork that is generated during the course of a risk based audit. They were primarily using MS Excel to conduct audits and this lead to multiple versions of Excel files, lost paper documents and audits taking too long.

How TRACe has been used:

The enterprise version of TRACe that has been implemented has allowed the client to stop having to rely on emailing different versions of MS Excel documents amongst the various audit team members. They have also been able to attach supporting documentation and publications to an audit using the integrated document management feature of TRACe.

Number of users:

The Audit Department, headed by EVP and Head of Audit, is responsible for managing different internal audits with coverage across all the different entities in the Bank comprising 40 users.