Israel Discount Bank has selected the Wolters Kluwer Financial Services OneSumX risk management solution for managing market risk, asset and liability management (ALM) and liquidity risk.
The OneSumX solution is based on a central structure designed for financial institutions, offering risk analytics ranging from sensitivity and gap analysis to advanced value-at-risk techniques and simulations.
The ALM solution is based on the Wolters Kluwer Financial Services integrated data architecture, and enables balance sheet modelling, risk measurement and management, and regulatory compliance.
Finally, the liquidity solution combines a risk management and stress-testing engine and a regulatory reporting platform, allowing forms to monitor, manage and report liquidity risk.
Wolters Kluwer was chosen on the merit of its robust risk solution, subject matter expertise and implementation services.
Shaul Rudner, head of central procurement at Israel Discount Bank, said: “In today’s rapidly changing environment, financial institutions must have robust systems in place to mitigate a wide array of risks.”
Kris Van Bavel, vice president of sales for Europe, the Middle East and Asia (EMEA) for Wolters Kluwer Financial Services, said: “We are honoured that Israel Discount Bank – a leading bank in Israel – has recognised our continued commitment to developing risk solutions that meet our client’s most challenging needs.”
He added: “We are certainly noting a significant trend across EMEA for banks who are keen to upgrade their risk management platforms.”
