Europe’s Largest Sharia’a-Compliant Bank Chooses ClusterSeven

The Bank of London and The Middle East (BLME) has selected ClusterSeven for its enterprise spreadsheet management to provide controls for its key business spreadsheets and the data they manage. BLME, an independent UK, wholesale bank based in London, is the largest Sharia’a compliant bank in Europe. Its  core divisions are corporate banking, treasury, and wealth management  which includes private banking and asset management.

ClusterSeven’s end-user computing management solutions enable financial services firms and other leading institutions to maintain the transparency and integrity of their spreadsheets and data files in order to increase productivity and business insight and to reduce operational risk.

“The understanding and control of spreadsheet activity we get with ClusterSeven allows us to improve our operational controls and governance,”  said Paul Gospage, chief operating officer at the bank. “These include better data quality, lower manual costs, and better insight to inform our IT development plans.”

Ralph Baxter, CEO of ClusterSeven, said that many high value and specialist business activities are dependent on spreadsheets.
“Increasing emphasis on risk management and data quality has exposed spreadsheet management as a major opportunity to reduce operational risk and deliver efficiencies.”

ClusterSeven was founded in 2003 and now has a third of the world’s top 30 banks as clients.

About Tom Groenfeldt

I write - mostly about finance and technology, sometimes about art, occasionally about politics and the intersection of politics and economics. My work appears on and and occasionally in The American Banker and Banking Technology in London.
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