Case Study: Barclays Bank achieves consistent enterprise risk reporting with Citicus ONE

Barclays Bank streamlines risk reporting across 50+ countries with Citicus

Barclays Bank, a major global financial services provider, faced the challenge of consistently measuring and reporting information risk across its highly devolved and diverse organization. To address this, Barclays partnered with vendor Citicus to implement their Citicus ONE risk and compliance management software, seeking a solution to capture key risk indicators and provide aggregated, business-oriented risk reporting.

The solution from Citicus streamlined Barclays' risk and compliance data capture, replacing an archaic Excel-based process with a web-based tool that integrated with existing operational risk reporting. This implementation empowered business units to conduct self-assessments, improved data quality, and provided multi-level reporting. As a result, Barclays gained a centralized view of its risk landscape for informed decision-making, realized an improved risk posture in a short time, and reduced costs by identifying and retiring duplicate controls. Citicus ONE became the de-facto standard for capturing risk and compliance statistics within the bank.

Barclays Bank