NORD/LB, a universal bank in the heart of northern Germany, has a clear focus on its core
business, especially within the region. The company‘s headquarters in Hanover, Braunschweig and Magdeburg mark the bank’s roots in its supporting states of Lower Saxony
NORD/LB operates as the Landesbank for Lower Saxony and Saxony-Anhalt and assumes
the responsibilities of a central bank for savings banks in the federal states of Lower Saxony
(43 savings banks), Saxony-Anhalt (13 savings banks) and Mecklenburg-Western Pomerania (10 savings banks). The NORD/LB Group also owns over 100 branches of the savings
bank, Braunschweigische Landessparkasse, in the greater Braunschweig area.
As a commercial bank, NORD/LB offers an extensive range of financial services to private, corporate, institutional and public sector customers. It also offers structured financing for aircraft financing and international projects within the energy, infrastructure, industry and real estate sectors at select locations. The bank is represented globally through branches and offices in all important trading centers including London, New York, Shanghai and Singapore.
*as of 2020
NORD/LB faced a number of challenges at the onset of the project:
The risk management software risk2value was able to address and resolve these issues.
Using risk2value provides many tangible improvements:
Nord/LB selected the GRC software vendor avedos because its tool risk2value best fulfilled various technical and business requirements for processing claims, individual risks, actions and self-assessments as well as publishing ad hoc reports, key risk indicators and scenario analysis. The possibility for generating dashboards with risk2value.analytics was another plus point. Furthermore, NORD/LB can now create a tailored claims report, including a plausibility report that the data consortium OP risk (DakOR) requires on a quarterly basis, at the touch of a button.
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