TORONTO, Feb 2, 2022 - SQL Power, the global leader in financial regulatory and advanced analytics technology is proud to announce that their supervisory platform, the SQL Power Suite, was selected by the Bank of Namibia (BON) as the technology framework to digitally transform the Bank.
The SQL Power Suite is the most robust and compelling Financial Supervisory solution in the World. Delivering the ultimate in regulator flexibility, self-sufficiency, efficiency, and transparency; increasing the likelihood of timely successful intervention while providing all interested parties with the ultimate confidence in the regulated market.
The BON is the country’s central bank with financial supervisory authority, whose role is to promote stability and reliability of the financial system as well as to ensure sustainability, growth, and effective consumer protection.
“The Bank is automating various business processes in three supervisory departments, namely Banking Supervision Department, Payment and Settlement Systems Department and Exchange Control Division. This will assist our teams to work faster and more efficiently and effectively, saving our staff time and improving the reputation of the Bank, as we strive to improve on our service delivery and stakeholder satisfaction goals internally and externally."
"The Interdepartmental Project will improve the work environment and place high-tech resources and expert digital skills at our disposal to carry-out our day-to-day activities. This change improves our work environment, improves efficiency, and improves tracking and delegating of responsibilities in our processes." Leonie Dunn – Deputy Governor of the Bank of Namibia
As regulators struggle to keep up with the accelerating pace of regulatory change, SQL Power’s highly configurable supervisory platform automates every aspect of financial regulation from registration to data collection to on-site examination and investigations; Ultimately future-proofing the Central Bank with a unified and flexible supervisory platform that will satisfy their regulatory requirements for decades to come.
"I am confident that the Bank of Namibia’s digital transformation initiative will be a huge success, and will serve as a showcase implementation for all Central Banks in Africa and around the World," said Sam Selim, President of SQL Power.
About SQL Power
Founded in 1989, SQL Power Group Inc. is a global application software firm specializing in data collection, data integration, business intelligence, and regulatory implementations.
Since implementing the first supervisory solution in Canada in 2009, SQL Power has been at the forefront of financial regulatory software innovation - rolling out the world's first fully-integrated XBRL-based data collection, risk management, case management, and advanced analytics solution that evolves seamlessly with evolving Global Financial Standards and customer needs.