Türkiye Finans Kat?l?m Bankas?, one of the largest banks in the Turkish financial sector and a subsidiary of the National Commercial Bank, has mandated Wolters Kluwer Financial Services to manage operational risk with its OneSumX GRD solution.
The solution will be implemented across 280 branches of the bank in Turkey, supporting operational risk model by automating and simplifying the process around operational losses and risk assessments, including collection, storage, analysing tracking and reporting.
It will also provide definition and management of key risk indicators and scenarios.
The OneSumX GRC solution is designed to bring greater transparency, control and efficiency to various functions within financial institutions. Its suite-based approach allows for added flexibility and scalability to help meet evolving and increasingly complex business operations. It is currently used by more than 900 banks, insurance companies and asset managers around the world.
Richard Pike, vice president of market management for Wolters Kluwer Financial Services in the Europe, Middle East and Asia region, said: “In today’s regulatory environment, an effective operational risk framework is essential for financial organizations, enabling them to make smart, forward-looking decisions that help drive the long-term success of their organisations.”
Özer Baran, head of Türkiye Finans risk reporting and credit policy, added: “Türkiye Finans’ selection of OneSumX GRC over other offerings in the marketplace is a testament to our satisfaction with Wolters Kluwer Financial Services’ experience, regulatory support, and proven ability to deliver.”
“We wanted to ensure that OneSumX GRC would meet our desired strategic results and expectations for managing operational risk, and we are very confident in our decision.”
