IntelligenceBank eyes new customers in North America

By John L. Guerra

Editor, GRC & Fraud Software Journal

Dominic Gluchowski, IntelligenceBank

Dominic Gluchowski, IntelligenceBank

As North America suffered under an Arctic freeze last month, IntelligenceBank employees depended on air conditioning to keep the brutal Australian summer.

“We are in the middle of summer, it’s about 97 degrees outside,” says Dominic Gluchowski, IntelligenceBank’s Marketing Director. “But we’re just as comfortable working in the winter in North America, too.”

The company, founded in Melbourne in 2009 with U.S. headquarters in San Diego, is a business process management platform that delivers niche SaaS applications that help teams reduce costs and risk.

IntelligenceBank has a host of GRC contracts in Australia and customers in more than 50 other countries.

Through a partnership with Deloitte, IntelligenceBank provides risk and compliance software for retail and franchise industries in the United States.

The company is in the midst of negotiations to provide GRC and other solutions to other American-based Fortune 500 companies, Gluchowski said.

“In the United States, we’ve secured several great enterprise customers, and it’s full steam ahead with the growing demand of compliance services across organizations in North America.

Conflict of Interest (COI) platforms are some of the company’s best selling solutions. IntelligenceBank’s conflict of Interest software is purpose-designed to enable staff, distributors and the board to easily report potential conflicts and seamlessly create a culture of integrity and corporate responsibility,” Gluchowski says.

“It automates the review and approval of critical gift, financial interests, and relational conflicts. With a real-time audit trail, compliance officers can instantly run custom reports and track actions taken.”

The solution is designed for any organization, but works well for highly regulated industries such as financial services, government, and healthcare where a system of managing disclosures are required.

It helps companies avoid large penalties for non-compliance, Gluchowski says. It’s less expensive than larger platforms that cost millions and 18 months to install and launch.

The IntelligenceBank solution is usually up and running in three or four weeks, he said. “It’s easier to customize, provides granular permissions for specific groups, and automatically escalates to management if someone doesn’t respond.”

To learn more, please visit our website.

Why every company needs a robust Conflict of Interest System

By IntelligenceBank GRC

“But I didn’t do anything,” are usually the first words to come out of a politician or executive’s mouth when they have been dismissed due to a conflict of interest.

intelligencebank artEssentially, most people think they aren’t doing anything wrong by accepting a gift from a business associate, using a relative’s warehouse to store excess product, or telling a friend to buy stock in a company they chair.

That’s because most people ithink they are inherently ‘good’ and therefore, if presented with a potentially compromising situation that could affect decision making, they don’t think they would make the wrong decision for the business.

The dilemma Chief Risk Officers face 

That’s the dilemma Chief Risk Officers face every day when trying to manage conflicts of interest with their directors, staff and even suppliers.

Most people simply do not understand that a conflict doesn’t need to be fulfilled to be problematic. Potential conflict is conflict.

Conflicts of interest can come in varying types and weight. Financial conflict and shareholding immediately spring to mind; however, hospitality and receiving or giving gifts  – what many consider normal business activity – is common. No matter what the amount, they all can skew the potential for unbiased, independent decision-making.

Automate your conflicts process; don’t rely on spreadsheets

The majority of risk managers will say they have strong policies and internal controls to deal with conflicts of interest.

This includes time (and money) spent on external audits to ensure these processes are adhered to.

In reality, most people do not thoroughly understand conflict policies and must be continually reminded about conflicts of interest policy, not just told once.

Your staff, including board members, must be educated on a range of conflicts your business commonly faces.  They must be told the systems (not just a spreadsheet) for declaring conflict approvals, as well as how to manage escalations.

If this process is not in place, ‘good people’  make poor decisions.

How To Embed Conflict Management Into a Culture

Recently, IntelligenceBank GRC was implemented by a top consumer goods company.

The GRC platform’s conflict of interest declaration software was used by the company to tackle a perceived culture problem with workers in the organization. Declarations have become part of each employees’ daily activities (starting from induction).

The company took the following steps:

  • It developed four key aspects to the COI Platform: approval workflow to escalate matters, FAQs and policies, a declarations system and training videos. Now, when board members and employees make a declaration, they understand why they have to do it and how it impacts the organization. In regards to changes in the regulatory framework, having the documentation in front of all staff ensures everyone was up to date.
  • Ensured that COI training was a feature of all staff inductions – from entry level employee to new board member. The onboarding process started with Conflict of Interest training.
  • Ensured all gifts – event, family and hospitality related were declared. No exceptions. Smart rules regarding declarations under $500 were logged in the system, but not elevated to superiors. Values in excess of $500 had to be approved by a person’s superior.
  • Seamless integration of The COI register with the company’s intranet and HR database was essential. Every day the register was seen by company employees at all levels. Any employee form submitted was automated to go straight to their supervisor.
  • The executive leadership team could review custom reports to review declarations by division, amount and type on a regular basis. For the program, benchmarks were developed to ensure goals were achieved.

For further information on best practices regarding Conflict of Interest programs and platforms, visit IntelligenceBank GRC or sign up for a COI demo on