Fast regulatory compliance and millions in cost savings achieved using ARIS
Customer Company Size
Large Corporate
Region
- Europe
Country
- Germany
Product
- ARIS
- ARIS Risk & Compliance Manager
- ARIS Architect
- ARIS Designer
Tech Stack
- Microsoft Excel
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
- Customer Satisfaction
Technology Category
- Application Infrastructure & Middleware - Data Exchange & Integration
- Analytics & Modeling - Process Analytics
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
- Process Control & Optimization
Services
- System Integration
- Software Design & Engineering Services
About The Customer
The W&W Group is a Stuttgart-headquartered company that was formed in 1999 from the merger of long-established firms Wüstenrot and Württembergische. The company operates in the financial services sector, providing a one-stop source for all their customers’ financial service needs. W&W is known as 'the financial specialist' for building wealth, home ownership, and providing comprehensive financial and risk protection. The company has over 6 million customers and operates with the help of 6,000 field service partners. W&W's business model is built on the principles of consistent and comprehensive risk management.
The Challenge
W&W Group, a financial services provider, was facing challenges with its Internal Control System (ICS). The existing ICS was not able to support the company's high standards for risk management and was making it difficult for them to comply with increasingly stringent regulatory requirements. The lack of good-quality documentation and a process-related overview of risks increased the chances of shortcomings in their process controls and risk assessments. The company needed to standardize their alert and escalation management processes and provide status reports on the performance of the ICS itself to meet new German regulatory requirements.
The Solution
W&W Group decided to redesign its ICS based on the ARIS Platform, using Software AG's solution for Governance, Risk & Compliance (GRC) Management as the foundation. The new ICS incorporated innovative requirements for automated, workflow-based risk management, enabling the company to link people across the organization with relevant company-wide data for activities, controls, and risk management. The ARIS solution for GRC was implemented quickly and accurately, providing comprehensive coverage over risk management tasks and controls. The solution also automated many previously manual ICS tasks, such as document handling and agreements on controls, saving the company around €2.5 million annually.
Operational Impact
Quantitative Benefit
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