KARACHI: Telenor Microfinance Bank (TMB) has been awarded the prestigious ICAP Digital Technology Awards in the category of ‘Use of Technology in Internal Audit’ for its groundbreaking digital audit application, DARE (Disrupting Audit Realms, by Embracing the Digital Opportunity).

DARE is an industry-first initiative and one of a kind in the audit realm. Leveraging the advanced capabilities of Power BI, Python, and Generative AI, DARE revolutionizes audit methodologies and reduces the audit lifecycle, enabling near real-time monitoring of the bank’s control environment. This transformative application provides predictions and insights that enhance shareholder decision-making.

Accessible on both desktop and mobile platforms, DARE is designed to provide comprehensive and actionable insights through user-friendly interfaces.

The application supports TMB’s goal of evolving into a data-driven, trusted, and innovative function that not only provides assurance and advice but also offers foresight for critical decision-making. This marks a significant shift from a traditional detective role to a predictive landscape in internal auditing.

Copyright Business Recorder, 2024