Banco AV Villas improves it's processes and reporting with Pirani's Risk Management Suite
Company information
Banco AV Villas belongs to Grupo Aval Acciones y Valores, Colombia's largest financial group, which manages one-third of the current loans of the Colombian banking system. The bank has set electronic channels, virtual banking, ATMs, Pin Pads and banking correspondents.
Due to the magnitude of its operations and in order to meet its strategic objective, Banco AV Villas is required to implement an adequate system for comprehensive risk management.
What was the problem?
Before implementing Piraní GIR in its risk management processes, Banco AV Villas, one of the most important in Colombia, relied on Excel to document events, causes and controls.
However, the use of Excel made data uploading tedious and time-consuming. Likewise, events were recorded through an internal development, which did not allow matching the events to risks. This led to an operational burden when consolidating information for reporting and duplicate information.
How did we solve it?
The shift to a comprehensive solution
In order to solve these problems, Banco AV Villas decided to implement Piraní in 2008, allowing the centralized management of information regarding risks, causes, controls, action plans and events.
Since then, the bank has significantly reduced the time it spends to consolidate information and prepare reports. Supported by Piraní, it was able to decentralize risk management. Thus, all areas of the organization can access their risk profiles and manage them, and so can users.