Largest bank in Eastern Europe joins growing list of firms to select provider’s risk management solution.
Sberbank implements Wolters Kluwer for risk management across multiple countries
Wolters Kluwer announced today that Sberbank Group, the third largest banking organization in Europe and largest in Russia, has selected the company’s OneSumX for Risk Management solution to streamline its global Treasury operations. Sberbank will use the Wolters Kluwer solution to help improve the view it holds for its risk management processes. The Financial Risk solution provides the bank’s Treasury with the means to perform dynamic simulation, market risk analysis, and liquidity risk analysis.
After a substantial and thorough evaluation process consisting initially of some 30 providers, Sberbank selected OneSumX in order to enable it to handle the increased challenges of efficiently operating the strategic functions of Asset Liability Management (ALM) and Liquidity Risk in its Moscow headquarters.
“At Sberbank, we decided to enhance our monitoring, forecasting and hedging abilities for the Treasury department. Such an approach required a custom built, adaptable, flexible and user-friendly analytic solution which matched well with our technical standards,” said Andrey Prudnikov, Treasury director at Sberbank CIB. “Wolters Kluwer proved to be the right partner for Sberbank, with our position justified after successful implementation. We also look forward to working with Wolters Kluwer in the future.”
“The success we are experiencing in the Russian market is not just attributable to our knowledge of the market but also our appreciation of how we need to build strategic working relationships with our clients,” said Clive Pedder, managing director, head of Finance, Risk & Reporting, at Wolters Kluwer. “Our OneSumX for Risk solution is designed to be flexible, so as Sberbank advances in its requirements, the bank can rely on our solution to adapt to challenges.”
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.