Nasdaq has agreed to sell its enterprise governance, risk and compliance (GRC) software platform BWise to SAI Global Pty.
BWise is a GRC platform which helps companies to improve process efficiencies, enhance accountability and lower costs, while improving decision making. The platform supports a range of industries including banking, and insurance with operational risk management, internal audit, internal control, compliance, and information security programs.
Last year, the platform launched a Regulatory Change Management solution which offers banks and financial institutions augmented regulatory content and intuitive workflow management in a single solution. The service aims to ease compliance burdens, increase board and regulator assurance and ensure no regulatory update is missed.
SAI Global is a global GRC solution provider, helping enterprises to manage risk across the customer lifecycle. Its solutions include compliance, operational, digital and vendor risk management, among others.
Nasdaq president and CEO Adena Friedman said, “This transaction is a result of Nasdaq’s renewed corporate strategy to concentrate our resources, people, and capital to maximize our potential as a technology and analytics provider to the capital markets, while also investing to enhance our leading marketplaces and the capital market clients we serve.
“SAI Global is the right partner for BWise, and we are confident in their ability to ensure BWise’s clients continue to receive excellent customer service and even more comprehensive risk and compliance services and solutions in the future.”
Until the deal has closed, which is expected to happen during H1 2019, SAL Global and BWise will continue to operate independently.
