Milleis Banque has selected Wolters Kluwer to provide its integrated regulatory compliance and reporting software. The bank will use Wolters Kluwer’s OneSumX for Risk Management as well as OneSumX for Regulatory Reporting to build a truly integrated risk and reporting framework.
AnaCap Financial Partners acquired Barclays French Retail Banking and Wealth Management business in 2017 and subsequently rebranded it in May 2018 to become Milleis Banque – a firm with more than 100,000 wealth management and retail clients.
Specifically, the bank will use OneSumX Asset and Liability Management (ALM), a centralized data repository combining contract data, balance sheet structures, counterparty and market data. It will also use OneSumX Market Risk which 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.
The bank’s use of OneSumX Credit Risk, meanwhile, will provide single name and portfolio credit risk analysis by means of three components: current and future exposures, expected and unexpected credit loss based on stress and credit value-at-risk analysis, and credit value adjustments.
The bank will also implement OneSumX for Regulatory Reporting. The solution uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 30 countries, allowing clients to meet ever-changing regulatory requirements at all times.
Wolters Kluwer Finance, Risk & Reporting (FRR) business receives frequent independent recognition of its excellence and innovation. In mid-2018, Riskmagazine awarded the company its coveted Regulatory Reporting System of The Year Award and Central Banking magazine recently 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 the annual RiskTech100® report. This comprehensive study of the world’s leading risk and compliance technology companies is compiled by Chartis Research. Notably, this is the seventh time in eight years that Wolters Kluwer FRR has achieved this honor.