MetricStream secures India op risk sale

Bajaj Finance engages US regulatory compliance app developer to keep pace with operational risk.

Bajaj Finance, the Indian provider of financial services, the retail lending arm of Bajaj Finserv, has engaged MetricStream, a US developer of compliance apps, to implement an audit and operational risk management system.

The company is using MetricStream’s Internal Audit Management and Operational Risk Management (ORM) apps, technologies designed to help financial firms to stay on top of regulation by monitoring requirements and providing risk metrics. It will also help provide Bajaj Finance’s operational risk management team with a loss data capturing across the organization.

Rakesh Bhatt, chief operations officer at Bajaj Finance said: “As one of India’s fastest growing and most diversified financial firms, we have been straddling multiple business lines. This makes it imperative for us to leverage GRC solutions that will further strengthen our business objective of combining sustainable profitability with controllership. We are hopeful that MetricStream’s Internal Audit Management and ORM Apps will improve usability of prepackaged customer reports as well as increase our overall ability to measure and manage risks.”

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