NewB opts for Wolters Kluwer’s OneSumX for Risk Management
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.”