Basel-II News

Multinational Food Retailer and Major Bank Select Governance, Risk, Compliance Platform from MEGA International

(March 26, 2007)---MEGA International introduced customers of its Governance, Risk, Compliance (GRC) Platform, a comprehensive enterprise-wide solution for corporate governance that the company launched in December. The GRC Platform shipped to initial customers, including the Delhaize Group, a multinational food retailer, and Banca Popolare Italiana.

The MEGA GRC Platform enables enterprises to design control systems, map risks, and meet multiple regulatory requirements. It provides efficient internal control management, while reducing the cost of compliance and eliminating redundant controls. Enterprises are selecting it to evaluate risk, identify and assess internal controls and control efficiency. It provides an event management environment with powerful quantitative analysis capability and sets up improvement strategies to help companies meet internal auditing and regulatory requirements.

"The MEGA GRC Platform offers all of the essential features that are necessary to automate compliance operations to meet Sarbanes-Oxley requirements. It provides us with a single automated process to describe all risks and controls, maintain accurate compliance data, and communicate critical information across various departments," noted Thierry Claes, Finance Processes & Systems manager, Delhaize Group, Belgium. "Our goal was to make compliance efforts more efficient and reduce the cost of compliance. Because Sarbanes-Oxley is such an integral part of company operations, we wanted a solution that would be efficient, effective, and last for many years."

Delhaize Group is a food retailer headquartered in Belgium. Founded in 1867, the Group operates 2,705 stores in Europe, the US, and Southeast Asia, with 2006 revenues of more than $24 billion. European stores include Delhaize "Le Lion", AD Delhaize, Proxy Delhaize, Shop 'n Go, City Delhaize, Alpha-Beta, and Mega Image. Phone and Internet sales are offered through Caddy-Home, and health and beauty products through Di and Tom&Co. stores. US supermarkets include Food Lion, Bloom, Bottom Dollar, Harveys, Hannaford Bros., Kash n' Karry, and Sweetbay.

"The obligations of Basel II clearly impact our company operations because they require the identification and monitoring of internal corporate policies and processes that control risk," explained Dr. Mauro Vittorio Bortolazzo, Enterprise Architecture Manager, Banca Popolare Italiana. "We selected MEGA's GRC Platform to fully integrate and efficiently monitor all of our processes and procedures with risk and control policies and auditing requirements. It was the only option we saw that was specifically designed to help organizations measure risk across the enterprise, centrally store policies, procedures, and controls, and then easily reuse the information across departments to meet regulatory banking standards."

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