Chartis Research has named Wolters Kluwer a Category Leader for the financial services industry in its RiskTech Quadrant® on Credit Risk Management Systems for the Banking Book report. The RiskTech Quadrant uses in-depth research and a clear scoring system to determine which credit risk management solutions in the marketplace can best meet an organization’s needs and implementation strategy.
The April 2016 report from Chartis evaluates credit risk management solution providers on two key factors—completeness of offering, and market potential. According to Chartis, Category Leaders, such as Wolters Kluwer, provide robust data management systems, flexible analytics, advanced stress testing engines, regulatory compliance functionality, real-time capabilities, and reporting and business intelligence tools. Wolters Kluwer’s credit risk management capabilities are part of its OneSumX® governance, finance, risk and compliance (GFRC) solution suite.
Credit risk has been an important risk discipline for banks for some time. As a result, much of the differentiation now focuses on newer and more complex capabilities, such as risk and finance integration, front and middle office integration, and stress testing as well as more advanced technology capabilities, including real-time and big data capabilities.
“Credit risk has always been much more than managing the likelihood of losses,” said Peyman Mestchian, managing partner at Chartis. “Leaders in this category achieve the right balance between modular solutions and unified enterprise platforms. This allows banks to achieve short term tactical, often compliance related, objectives without forgoing their long term technology strategy.”
“The key to reducing loan losses, and ensuring that capital reserves appropriately reflect the risk profile, is to implement an integrated, quantitative credit risk solution,” said Clive Pedder, managing director, Finance, Risk and Reporting at Wolters Kluwer. “We’re pleased that Chartis has not only recognized our credit risk management capabilities, but also our ability to meet these requirements in the context of a holistic GFRC framework through our OneSumX solution.”