Bank BGŻ BNP Paribas has opted to use Wolters Kluwer’s risk management software, joining the growing list of Eastern European firms to have become clients of the firm in recent months. The major Polish bank will use OneSumX for risk management and is in the process of implementing the solution for Asset and Liability Management (ALM) and to manage its liquidity risk. The bank will also use OneSumX to oversee its funds transfer pricing (FTP) functionality.
OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance, increasing organizational profitability, efficiency and growth.
The ALM component is based on Wolters Kluwer’s integrated platform, enabling balance sheet modeling, stress testing, dynamic planning and others. Meanwhile, Wolters Kluwer’s liquidity risk capabilities combine a risk management/stress engine and regulatory reporting platform which enables the firm to monitor, manage and report liquidity risk.
“Bank BGŻ BNP Paribas has a leading position in Polish financial services and so we required leading technology to ensure the very best in modern risk management practices,” commented Jarosław Rot, managing director at Bank BGŻ BNP Paribas. “We have a long standing relationship with Wolters Kluwer and I look forward to working with the firm to implement OneSumX,” added Jarosław Rot.
“Our OneSumX solution is proving to be incredibly popular with banks across the region. And we are, of course, delighted that Bank BGŻ, as a long term customer, has chosen to implement the software following last year’s merger to become Bank BGŻ BNP Paribas,” comments Kris Van Bavel, EMEA managing director for Finance, Risk and Reporting at Wolters Kluwer. “We very much look forward to working with the bank’s risk team as it implements the solution.”
Bank BGŻ BNP Paribas is a universal bank listed on the Warsaw Stock Exchange. The Bank offers individual clients savings and investment products as well as a wide range of loans. In turn, it provides businesses (micro businesses, SMEs and corporates) with solutions to fund their operations on the Polish market and on the international market. The Bank also renders services to food and agro sector companies. It specializes in financing agriculture, the food economy and regional infrastructure. The Bank provides a comprehensive offering to private banking segment clients to protect, optimize and grow their wealth. The Bank’s clients may also avail themselves of investment advisory services. It is the Bank’s mission to offer innovative financial solutions in a responsible manner to help clients change their world and support the local economy. Bank BGŻ BNP Paribas is a member of the leading international BNP Paribas banking group.
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, GainsKeeper®, LegalVIEW®, OneSumX®, Passport®, TyMetrix® 360, 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.