Ghana International Bank plc implements KnowCo stress-testing software

Ghana International Bank plc (GHIB), a Ghanaian-owned international Bank based in the City of London, has gone live with KnowCo’s stress-testing system, KST.

GHIB delivers banking services for Ghanaians around the globe, and for corporates doing business in Africa the Bank is a gateway to the global financial system, providing access to expertise, capital and extensive cross-border capabilities. GHIB is majority-owned by the Bank of Ghana, Ghana’s central bank, and was incorporated in London in 1998, although previously present in London since 1959 as the London branch of another shareholder, Ghana Commercial Bank.

Following an internal review of the bank’s risk management systems and processes, GHIB concluded that its plans for development and growth demanded further support in the high-focus area of stress-testing. The Bank subsequently began its search for a solution, which led to a comprehensive evaluation of competing offerings. Festus Mensah, Head of Regulatory Reporting, explains why KnowCo’s product was selected:

“We needed a system that was tried and tested, but also flexible and future-proof, and which most importantly could be scaled to match our continuous programme of risk management enhancement. After reviewing the market we found that KnowCo’s KST solution was the system which best matched our requirements, through elimination of spreadsheets and manual input associated risks, with an easy to implement and execute, auditable stress-test functionality. Backed by a responsive support team and strong domain expertise, we are better able to respond to an evolving and challenging regulatory environment.

KST meets our demanding ambitions for enhanced stress-testing to support the Bank’s plans for prudent expansion and growth. The system is highly configurable and is kept constantly up-to-date with regulatory developments.”