Union Bank of India has announced modernising its risk management systems by implementing SAS solutions to enhance and streamline its risk operations. As per the official announcement, Union Bank of India partnered with SAS and embarked on a transformation initiative which addressed the data amalgamation and met RBI’s regulatory requirements for credit and operational risk while obtaining an enterprise view of the bank's risk exposure throughout the risk management life cycle.

The SAS team deployed a suite of SAS tools for risk modernisation, including SAS Stratum, SAS IRM Solution, SAS Data Integration Studio, SAS GCM, SAS Visual Analytics, and SAS Op-VaR. According to the announcement, this modernisation resulted in significant credit risk RWA and capital savings with a single integrated system for RWA computation. This standardised system enabled rapid RWA generation for large volumes of data within just a few hours.

In addition to RBI compliance across reporting, risk computing and audit functionality, the project also provided a 360-degree view of operational risk with automated Key Risk Indicator (KRI) monitoring and trend analysis. About Union Bank of India Union Bank of India has a network of more than 8400 domestic branches, more than 8900 ATMs, 75800+ employees and more than 18,900 BC Points. The Bank has received several recognitions for its prowess in technology, digital banking, financial inclusion, MSME and development of human resources.

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