LGT Group chooses an internal control system based on risk2value from avedos

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The LGT Group based in Vaduz, Liechtenstein, will implement an IT-driven internal control system based on risk2value (now BIC GRC Solutions) from avedos (now GBTEC). The private bank selected the GRC platform following an in-depth evaluation of leading ICS solutions.

LGT chose risk2value due to its good usability and high flexibility. The bank can map its current ICS in the software as well as adapt it to continual developments and improvements as the process matures.

“Following a two-day workshop where we experienced the company’s consulting expertise and the solution risk2value firsthand, we were certain that avedos was the best solution for building a modern, futureproof ICS solution at LGT,” explains Marco Stalder, Head Operational Risk at LGT Group.

“We have seen a growing market demand for a GRC solution that drives more effective, efficient performance management by unifying isolated processes such as risk management, internal control systems, compliance management, audit management or information security management,” adds Hannes Wambach, CSO at avedos. “Through the high usability and customized configuration of risk2value, we are well geared to support the different characteristics and maturity levels of our clients’ GRC processes as they evolve over time.

“Large, global players as well as midsize companies of all industries rely on our software to effectively address their current and future GRC requirements, improve transparency, and reduce costs through a single, common software platform,” concludes Samuel Brandstätter, CEO at avedos. “We are very excited to welcome the LGT Group, as one of the biggest, most renowned private banks, to our growing base of clients.”

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