Wolters Kluwer today announced that Chartis Research has named the company a Category Leader for the financial services industry in its RiskTech Quadrant® on Credit Risk Management Systems for the Banking Book report. The RiskTech Quadrant uses in-depth research and a clear scoring system to determine which credit risk management solutions in the marketplace can best meet an organization’s needs and implementation strategy.
The April 2016 report from Chartis evaluates credit risk management solution providers on two key factors—completeness of offering, and market potential. According to Chartis, Category Leaders, such as Wolters Kluwer, provide robust data management systems, flexible analytics, advanced stress testing engines, regulatory compliance functionality, real-time capabilities, and reporting and business intelligence tools. Wolters Kluwer’s credit risk management capabilities are part of its OneSumX® governance, finance, risk and compliance (GFRC) solution suite.
Credit risk has been an important risk discipline for banks for some time. As a result, much of the differentiation now focuses on newer and more complex capabilities, such as risk and finance integration, front and middle office integration, and stress testing as well as more advanced technology capabilities, including real-time and big data capabilities.
“Credit risk has always been much more than managing the likelihood of losses,” said Peyman Mestchian, managing partner at Chartis. “Leaders in this category achieve the right balance between modular soluions and unified enterprise platforms. This allows banks to achive short term tactical, often compliance related, objectives without forgoeing their long term technology strategy.”
“The key to reducing loan losses, and ensuring that capital reserves appropriately reflect the risk profile, is to implement an integrated, quantitative credit risk solution,” said Clive Pedder, managing director, Finance, Risk and Reporting at Wolters Kluwer. “We’re pleased that Chartis has not only recognized our credit risk management 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 received Category Winner recognition in the International Financial Reporting Standards (IFRS) 9 category in Chartis’ RiskTech100® rankings. In the same rankings, the company also won Category Winner recognition for Regulatory Reporting, marking five years running that it has achieved that honor. Additionally, Wolters Kluwer was named a Category Leader for the financial services industry in Chartis’ FinTech Quadrant™ on IFRS 9 Technology Solutions.
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, TyMetrix® 360, Passport®, LegalVIEW®, GainsKeeper®, 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 QuadrantTM are registered trademarks of Chartis Research (http://www.chartis-research.com).