Aizkraukles Banka was established in 1993 in the city of Aizkraukle. Its headquarters are in the Latvian capital of Riga with offices in Russia. The bank has the largest team of private bankers in Latvia and combines the best practices of the European banking system with an individual approach to each customer. Its mission is to become the leading independent private bank in Eastern Europe, combining all banking services, including asset management and advisory services, in a single customer-tailored offer.
To achieve this the bank needed to improve the efficiency of operational risk management with an automated solution and it chose Nexum Operational Risk Management (Nexum ORM) solution. The solution delivered several key requirements including a centralised operational risk database, automated reporting and notification functions and a more efficient risk identification system.
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