Wolters Kluwer’s Finance Risk & Reporting (FRR) business is the Best Market Risk Solution Provider, according to Waters Technology, the 35-year-old journal of record for the financial technology industry.
The award was part of the annual Waters Technology Rankings, a survey which “should be considered a reflection of how financial technology professionals view their peers in terms of overall quality of service,” according to the magazine’s editors.
“Wolters Kluwer scored the title thanks to OneSumX Market Risk,” Waters Technology wrote in its justification for the award. “The solution helps clients to optimize their business, balance sheets and funding endeavors. It offers advanced risk metrics, a centralized data architecture and product modeling that enables product valuation, cash-flow generation and contract forecasting.”
Wolters Kluwer FRR’s OneSumX Market Risk solution provides an integrated view of profit and loss and risks on balance sheet. Based on a centralized data structure specifically designed for financial institutions, the OneSumX Market Risk solution offers all modern risk analytics and techniques, from basic sensitivity and gap analysis, through more advanced Value at Risk (VaR) techniques and into simultaneous dynamic simulation of credit and market risk, based on Monte Carlo modeling.
“Over the last year, Wolters Kluwer introduced improved in-memory processing and data virtualization to its offering, as well as advanced risk-factor modeling and market analytics,” Waters Technology added in its award write up. “The firm also added enhanced instrument coverage along all verticals, such as liquidity, income, exposure and value, and embedded and exotic options.”
Rajat Somany, London-based Vice President of Global Product and Platform Management for Wolters Kluwer FRR, commented, “The silo-based approach for risk is becoming a hindrance. Future-proofed solutions should give an integrated view of profit-and-loss and risk on the balance sheet, both from a risk perspective and from a business unit perspective. With the Wolters Kluwer OneSumX Market Risk solution, we offer this kind of integrated platform to manage all of the risks on clients’ balance sheets. We are delighted to receive this independent recognition of our leading capabilities in the area and thank Waters Technology for the prestigious accolade.”
Wolters Kluwer FRR, which is part of the company’s Governance, Risk & Compliance 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. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the second year running and Central Banking magazine has named OneSumX for Regulatory Reporting its Best Technology Solution For Regulatory Compliance. Wolters Kluwer FRR is also this year’s Category Winner for Regulatory Reporting in Chartis Research’s annual RiskTech100® report, which is a comprehensive study of the world’s leading risk and compliance technology companies. Notably, this is the seventh time in eight years that Wolters Kluwer FRR has achieved this honor. Chartis Research has also named Wolters Kluwer FRR a Category Leader in both its IFRS 9 Technology Solutions Report and CECL Report.