Commerzbank, a leading German international commercial bank with branches and offices in almost 50 countries, is to implement Pentana Audit , a software solution from Ideagen, for its global internal audit operations. Pentana Audit is Ideagen’s risk-based audit automation software solution used by over 450 organisations worldwide.
Commerzbank serves more than 18 million private and small business customers, as well as more than 60,000 corporate customers, multinationals, financial services providers and institutional clients. In 2016, it generated gross revenues of 9.4 billion Euros and employs almost 50,000 staff.
Ideagen specialises in providing compliance, audit, control and risk management solutions to banks, accountancy firms and financial services organisations and works with some of the world’s largest organisations in this area including BDO, BBVA and the European Central Bank.
Its Pentana Assurance suite of software – which includes Pentana Audit, Pentana Performance and Pentana Disclose – consolidates Ideagen’s efforts in creating a functionally complete and market leading internal audit, compliance and oversight software suite.
Colin Smith, Ideagen’s Head of Banking, Finance and Audit at Ideagen, said: “This particular project is proof of our standing as one of the leading software providers to the global banking, audit and finance industry.”