Case Study: Midland States Bank achieves rapid, cost-effective ERM and compliance management with Acuity Risk Management STREAM

Why they use STREAM to manage compliance with the COSO 2013 framework

Midland States Bank, an Illinois-based financial services company, needed a cost-effective enterprise risk management solution to replace spreadsheet-based tools and better manage its internal control framework as it prepared for an IPO. The bank chose Acuity Risk Management’s STREAM platform to support COSO compliance and improve governance, configurability, and control over its risk processes.

With Acuity Risk Management’s STREAM, Midland States Bank was able to deploy quickly, build a full control framework in days, and generate reports in minutes instead of days. The solution expanded to cover risk management, audit findings, and operational events for several dozen users, while also delivering fast response times, strong support, and a lower-cost rollout than typical GRC platforms.

Midland States Bank

James Stewart

Chief Risk Officer