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American Stock Exchange Nasdaq To Sell GRC Software Platform BWise To SAI Global

BFSI News

American_Stock-Exchange-Nasdaq-To-Sell-GRC-Software-Platform-BWise-To-SAI-Global American Stock Exchange Nasdaq To Sell GRC Software Platform BWise To SAI GlobalNasdaq, an American Stock Exchange, will sell its GRC software (Governance, Risk and Compliance) platform BWise to SAI Global, a Chicago, Illinois-based risk management solutions provider. However, financial details were not unveiled, but the closing of this transaction is anticipated to be closed in the mid of 2019. Established in the year 1994, BWise was acquired by Nasdaq in 7-year back in 2012.

GRC software platform BWise provides several role-based solutions for Internal Audit, Risk Management, Internal Control, Compliance and Policy Management, Information Security and Sustainability Performance Management. Nasdaq BWise considers that all lines of defense should run within one integrated system. This facilitates working from one common risk taxonomy that concentrates business objectives and offers internal audit, risk, and compliance a common language. Nasdaq President and CEO Adena Friedman explained that this transaction is a result of the company’s renewed corporate strategy to focus on Nasdaq’s resources, people, and capital to maximize its potential as a technology and analytics provider to the capital marketplaces, while also investing to improve the company’s leading position in markets and the capital market clients. As noted by Nasdaq, companies utilize Bwise’s solutions for risk management, internal control, internal audit, compliance, and information security programs. Both United States-based firms will keep running as independent companies until the closing of the transaction.

With headquartered in New York City, NY, the Nasdaq Stock Market is the second-largest stock exchange in the world by market capitalization, behind only the New York Stock Exchange situated in the same city. On the other hand, SAI Global is a risk management, standards compliance, and information business based in Chicago, Illinois.