Addiko Group is to work with software firm Ideagen in a cross-border auditing project through several Central and Eastern European countries.
Headquartered in Vienna, Addiko - a specialist Consumer and SME banking group – will launch Ideagen’s Pentana Audit software across its operations in Austria, Croatia, Slovenia, Montenegro, Serbia and Bosnia & Herzegovina.
Pentana Audit is Ideagen’s flagship internal auditing software and is used by major financial institutions including the likes of Bank of New York Mellon, Rothschild and Co., Riyad Bank, Sainsbury’s Bank, BDO and Commerzbank.
Addiko will adopt the Pentana Audit solution for several specific auditing tasks, including risk-based audit planning, deficiency management and comprehensive reporting.
Ingrid Mickl, of Addiko Bank, said: “We are pleased to be working with both Ideagen and its Pentana Audit software which we believe will bring further benefits and efficiencies to our internal auditing activities going forward.
“The unique level of reconfigurability available in the software is considered by many in the internal auditing arena to be a game-changer, enabling audit teams to mirror their own audit methodology within the system.
“We believe that Pentana Audit will modernise and digitally streamline our internal auditing efforts, and help to improve the level of risk-based auditing across our entire operations.”
Addiko Bank is a consumer and SME specialist banking group, having repositioned itself to focus on its consumer business and SME lending activities as well as payment services.
Colin Smith, Head of Ideagen’s Audit, Risk and Compliance division, said: “We are delighted to welcome Addiko Bank to our ever-growing Pentana Audit client list, which includes internal auditing teams working for some of the world’s largest financial institutions.
“Pentana Audit is the only truly ’off-the-shelf’, fully configurable and fully integrated, single database Audit Management system available anywhere in the world today. It is available in 14 different languages and has been implemented by internal audit teams operating in over 75 countries worldwide.
“This project with Addiko Bank is yet another testament to the strength of the software, and in Ideagen’s expertise, and we are delighted to welcome Addiko Bank to our extensive customer base.”