MetricStream to deploy GRC soln in US bank

BANGALORE, INDIA: Bangalore-based MetricStream, a provider of enterprise-wide Governance, Risk and Compliance (GRC) solutions, has announced that US-based Sterling Savings Bank has selected MetricStream to implement an integrated GRC solution.

MetricStream was chosen by Sterling Savings Bank to consolidate various risk, compliance and audit functions, including Enterprise Risk Management, Operational Risk Management, Internal Audit, Policy Management, Business-line Risk Assessment, Vendor Management, etc, said a press release.

Offering an extensive suite of banking products, Sterling serves over 25,000 businesses and nearly 200,000 retail accounts throughout the Pacific Northwest.

MetricStream's GRC solutions will replace a number of stand-alone software applications and point solutions that catered to individual departments and functions. Aware of the benefits an enterprise-wide approach can deliver, Sterling decided to implement a single solution that will provide a common data model as well as foster communication, collaboration and information sharing between business units and corporate functions.

As a result, the bank will be able to ensure ownership and transparency while aggregating GRC data from across the enterprise in real time, and leveraging this information to drive risk-based decisions and business strategy.

“As we position our company for the future, we recognize the need for an integrated view of risks and controls. We conducted in-depth assessments of various vendors and products, and are delighted to name MetricStream as our partner,” said Greg Seibly, CEO of Sterling Savings Bank.