KPMG’s GRC service provides organisations with easy access to advanced data management. Credit: Karolis Kavolelis/Shutterstock

KPMG Lower Gulf, in collaboration with Microsoft and IBM, has introduced a new Governance, Risk, and Compliance (GRC) service, called Risk Hub, in the United Arab Emirates (UAE).

The “cost-effective” solution aims to facilitate risk-based decisions and enhance business performance.

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The newly launched GRC service provides organisations with easy access to advanced data management, intuitive dashboards, and support to maintain compliance and manage risk effectively.

KPMG Lower Gulf GRCS head, partner Sudhir Arvind said: “The Risk Hub helps organisations streamline GRC processes for better decision-making and helps manage evolving regulatory challenges.”

IBM Middle East & Africa service ecosystem leader Grant Millar said: “Audit efficiency is paramount for Middle East organisations. The solution is a powerful combination of KPMG’s risk management expertise, powered by IBM’s OpenPages, hosted on Microsoft Azure.”

Utilising IBM’s OpenPages, the Risk Hub is a scalable, artificial intelligence (AI)-powered GRC platform designed to help companies leverage the latest AI solutions for their GRC systems.

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Microsoft UAE chief partnership officer Ahmed Hamzawy said: “Risk and compliance management are two areas where AI can really make a difference to significantly reduce employee workloads.

“We are pleased to partner with KPMG and IBM to provide real-time, risk-based insights to Middle East organisations. The solution is a powerful combination of KPMG’s expert risk management, powered by IBM’s OpenPages, hosted on Microsoft Azure.”

Earlier this month, KPMG Switzerland and LatticeFlow AI teamed up to improve AI risk assessments and compliance for enterprises.

The collaboration is a response to the increasing concerns over AI systems’ risks and the stringent regulations like the EU AI Act.

The partnership combines KPMG Switzerland’s expertise in digital risk advisory services with LatticeFlow AI’s advanced technology.