23 October 2017
Reporter: Theo Andrew

Wolters Kluwer chosen for risk and reg by Polish bank

Wolters Kluwer has been chosen by Warsaw-based bank Polskiej Spóldzielczosci (Bank BPS), to provide integrated risk and regulatory reporting solutions through its OneSumX programme.

Bank BPS will use the OneSumX solutions for static and dynamic projection analysis, liquidity reporting, interest-rate and foreign-exchange risk, as well as value-at-risk analysis.

Using OneSumX, the bank will be able to support reporting for liquidity coverage ratio requirements, additional liquidity monitoring metrics, net stable funding ratio and assets encumbrance regulation in Poland.

In order to ensure reconciliations and accuracy of its regulatory reporting, OneSumX’s solution uses one consistent source of data, maintained across 50 countries.

The mandate follows a number of successful appointments of Wolters Kluwer’s platform by large institutional banks in the last year, including Nordea, BBVA and CBIC, predominantly utilising the platform’s reporting solutions.

Maja Kraszewska, director of the financial risk department at Bank BPS, said: “We required a system in which risk and regulatory reporting were integrated in an optimal and seamless way. Wolters Kluwer provides this capability.”

Kris Van Bavel, managing director for Europe, the Middle East and Africa at Wolters Kluwer, said: “Our integrated risk and regulatory reporting platform, supported by our detailed understanding of Bank BPS’s business needs and strong local presence were some of our key differentiators in the request-for-proposal process.”

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