Wolters Kluwer today announced that Chartis Research has named the company a Category Leader for the financial services industry in its FinTech Quadrant™ on International Financial Reporting Standards (IFRS) 9 Technology Solutions. The FinTech Quadrant uses in-depth research and a clear scoring system to determine which IFRS 9 technology solutions in the marketplace can best meet an organization’s needs.
The March 2016 report from Chartis evaluates IFRS 9 technology solution providers on two key factors—completeness of offering and market potential. According to Chartis, Category Leaders, such as Wolters Kluwer, demonstrate a clear strategy for sustainable, profitable growth matched with best-in-class solutions. Wolters Kluwer’s IFRS 9 capabilities are part of its OneSumX® governance, finance, risk and compliance (GFRC) solution suite.
“Despite the clear advantage that the IFRS 9 requirements deliver, they have also introduced new working practices and new layers of complexity within accountancy that present challenges to the financial services industry,” said Hugh Stewart, research director at Chartis. “Wolters Kluwer continues to be a leader in helping its customers address these challenges and better position themselves for increased organizational profitability, efficiency and success.”
“Upgrading to the latest IFRS 9 requirements is a large transformational event for all financial institutions, regardless of size,” said Jeroen Van Doorsselaere, director, Business Development, Finance, IFRS and Performance at Wolters Kluwer. “We’re pleased that Chartis has not only recognized our deep IFRS 9 capabilities, but also our ability to meet these requirements in the context of a holistic GFRC framework through our OneSumX solution.”
Earlier in 2016, Wolters Kluwer was ranked No. 1 in the IFRS 9 category in Chartis’ RiskTech100® report. In the same report, the company also won top ranking in the Regulatory Reporting category, marking five years running that it has achieved that honor.
For more information about Wolters Kluwer's OneSumX solution suite, please visit www.WoltersKluwerFS.com/OneSumX.
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments. The division’s prominent brands include: AppOne®, AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT Corporation, CT Lien Solutions, Corsearch, ELM Solutions, TyMetrix® 360, Passport®, LegalVIEW®, GainsKeeper®, NRAI, OneSumX®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media which has market leading brands such as Risk and Waters Technology. Chartis' goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology. RiskTech Quadrant®, RiskTech100® and Fintech Quadrant™ are registered trademarks of Chartis Research. (http://www.chartis-research.com).