NewB, the Belgian ethical bank, has selected Wolters Kluwer’s OneSumX for Risk Management to manage its Asset and Liability Management (ALM) requirements as well as its liquidity risk.
The ALM component of OneSumX for Risk Management is based on Wolters Kluwer’s integrated platform, enabling balance sheet modeling, stress testing and dynamic planning. OneSumX Liquidity Risk Management, meanwhile, introduces a risk management, stress engine and regulatory reporting platform to help firms monitor, manage and report on liquidity risk. To achieve this, financial instruments are mapped into the solution, and strategies and stress scenarios can be performed to identify the impact to both market and funding liquidity.
“The goal of NewB is to offer simple and transparent banking services which follow the principles of sustainability and ethics. As such we require highly reliable and intuitive technology to ensure we manage our risk profile,” commented Jean-Christophe Vanhuysse, Executive Director at NewB. “Wolters Kluwer has an excellent reputation in the ALM and liquidity areas and so the company’s award-winning technology offers an excellent fit for us.”
“We continue to attract a range of clients across Benelux and beyond – not just for our risk offerings, but across all finance, risk and reporting areas,” said Kris Van Bavel, Managing Director of Wolters Kluwer’s Finance, Risk & Reporting (FRR) business in EMEA. “We are very much looking forward to working with NewB’s talented team on the implementation.”
Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.
Wolters Kluwer FRR receives frequent independent recognition of its excellence and innovation, celebrating a record year for award wins in 2019. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the third year running and Wolters Kluwer FRR is the #1 provider in both Regulatory Reporting and Liquidity Risk according to the RiskTech100, as compiled by Chartis Research.
Wolters Kluwer’s GRC division offers a range of expert solutions to help the financial services industry respond to the COVID-19 pandemic. Its Compliance Solutions business, for example, offers Paycheck Protection Program Supported by TSoftPlus™ to support stimulus loan applications and loan forgiveness processes under the Coronavirus Aid, Relief, and Economic Security Act or U.S. CARES Act. Wolters Kluwer Lien Solutions, meanwhile, has also recently established a technology solution specifically designed to help U.S. lenders navigate Paycheck Protection Program loan applications, and associated compliance and risk mitigation requirements, resulting from the CARES Act. The Business Entity Search for CARES Act solution conducts bulk/batch corporate identity searches to verify the business status of potential borrowers.