Case Study: Piraeus Bank Egypt achieves Basel II compliance and improved operational efficiency with iGrafx

Improving Operational Efficiency by Reducing Risk

Piraeus Bank Egypt, the Egyptian arm of Piraeus Bank Group, faced the twin challenge of growing market share and customer satisfaction while meeting the new Basel II requirements for operational risk. To examine and reduce operational risk across its 1,200-strong organization without disrupting service, Piraeus Bank Egypt selected the iGrafx process modeling and simulation tool (delivered by ProServ).

Using iGrafx’s process decomposition, graphical modeling and offline simulation, the bank mapped and analyzed core processes, identified root causes, and tested improvements before going live. The iGrafx solution was rolled out in a seven-month program and enabled Piraeus Bank Egypt to dramatically improve operational efficiency, reduce operational risk, standardize process management across branches, and achieve Basel II compliance ahead of schedule—becoming the first bank in Egypt to do so.

Piraeus Bank Egypt

Faisal Mansour

Director, Central Operations