Abbey National snaps up Op risk solution from Raft

UK bank Abbey National has purchased raft radar, an operational risk management system from London-based software provider Raft International.

Abbey National, the UK’s sixth largest bank measured by assets, will use raft radar for the active management of its operational exposures. It will initially use three modules from the web-based package throughout the company – incident capture, key management indicators and processes, risk and controls.

Raft radar helps financial institutions to meet operational risk regulatory obligations and capital adequacy calculations, the company said.