Following a tender process, Nordea Bank Russia will use the solution to support balance sheet modelling, risk measurement and management, and also for its risk management and asset and liability management (ALM) requirements.
The solution is part of Wolters Kluwer’s business analytics offering, and uses integrated data architecture to help with risk management throughout the organisation.
Alexander Dugin, deputy chief risk officer at Nordea Bank Russia, said: “Nordea adheres to high standards in risk management. That is why we need solutions meeting our tough criteria.”
He added: “We chose Wolters Kluwer because it has an impeccable reputation and expertise in delivering best risk management and MIS reporting solutions.”
Kris Van Bavel, managing director for Wolters Kluwer’s finance, risk and reporting business in Europe, the Middle East and Africa, said: “We have a deep understanding of the Russian market and can offer suitable solutions to banks so that they get aligned with increasingly tough requirements. We look forward to working with Nordea Bank Russia on the implementation.”