Československá obchodní banka (ČSOB), a leading Czech bank, has chosen Wolters Kluwer’s OneSumX software to support its Treasury department.
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.
ČSOB, which is owned by Belgium’s KBC Bank, will use OneSumX for Risk Management, implementing the solution for its Treasury (ALM) department to oversee its funds transfer pricing (FTP) system.
The FTP component is based on Wolters Kluwer’s integrated platform, which performs the assignment of FTP rates and calculation of spreads per deal, thus enabling calculation of business units profitability, as well as balance sheet analysis and management.
“ČSOB’s adoption of our software is another important validation of our leading position in the risk management space through our OneSumX solution,” notes Kris Van Bavel, managing director, EMEA, for Wolters Kluwer’s Finance, Risk & Reporting business. “We very much look forward to continuing our work with the bank on the implementation and on a further roll-out of our risk management solution.”
Other banks that have recently signed up to use OneSumX include BGFI, Banco Santander, Taiwan Business Bank, Bank BGŻ BNP Paribas and Mizuho Bank.
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: AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT Corporation, CT Lien Solutions, ComplianceOne®, Corsearch, Expere®, 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.