Wolters Kluwer's OneSumX Recognized for Excellence in ALM Solutions

Wolters Kluwer Honored with Best ALM Solution Award

Wolters Kluwer, a leading provider of information, software, and services for professionals, has achieved a significant milestone by winning the prestigious Best ALM Solution by a Vendor award. This accolade highlights the excellence of its OneSumX for Asset Liability Management (ALM) solution, recognized at The Global BankTech Awards 2024.

The Significance of The Global BankTech Awards

Organized by The Digital Banker, The Global BankTech Awards acknowledges companies that are driving transformative changes through technology within the financial services sector. These awards serve as a benchmark for excellence and innovation, celebrating firms that stand out in enhancing operational efficiencies and customer experiences in banking.

The Robust Features of OneSumX for ALM

OneSumX for ALM is designed to meet the complex needs of risk management and regulatory reporting. The solution excels in providing comprehensive coverage of internal ALM metrics, allowing institutions to effortlessly produce crucial regulatory reports, including IRRBB. The powerful simulation and calculation engine enables users to conduct extensive ‘what-if’ analyses, while ensuring accurate accounting treatment and consistent integration of credit and market risk across all ALM reports.

Insights from Leadership

Jeroen Van Doorsselaere, Vice President of Product and Platform Management for Wolters Kluwer FRR, expressed his gratitude for the award, stating, "We are honored to receive this recognition. It validates the extensive capabilities of our OneSumX ALM solution. Today’s financial landscape demands solutions that not only focus on traditional risks like interest rate and liquidity but also integrate various risk elements, including credit risk and capital management. Our solution helps banks align their regulatory and internal performance metrics seamlessly."

Judges' Praise for OneSumX

The panel of judges acknowledged OneSumX as an exceptionally robust platform for integrated balance sheet management, emphasizing its strength in accurately forecasting cash flows at the contract level and its ability to generate detailed liquidity and interest rate profiles. These features contribute significantly to in-depth financial analysis, proving the solution's effectiveness in a dynamically changing market.

Recognition in Industry Reports

In addition to this award, OneSumX ALM has consistently been recognized for its outstanding performance. The recent ALM Technology Systems 2023 report by Chartis, a global research and analysis provider specializing in risk technology, declared OneSumX the category leader across all quadrants. This reaffirms the solution’s comprehensive capabilities and its position as a trusted tool for financial institutions worldwide.

Wolters Kluwer FRR's Commitment to Excellence

Wolters Kluwer's Finance, Risk, and Regulatory Reporting (FRR) division is committed to delivering innovative software solutions that cater to evolving market demands. As a part of Wolters Kluwer’s broader Corporate Performance & ESG division, the FRR segment is dedicated to enhancing business leaders' decision-making processes through technology, ultimately driving performance and risk resilience in a sustainable business environment.

About Wolters Kluwer

With its strong foundation as a global leader in providing information and software solutions, Wolters Kluwer operates across various sectors including healthcare, legal, tax and accounting, corporate compliance, and governance. The company reported 2023 annual revenues of €5.6 billion, demonstrating its strong market position and commitment to innovation. Headquartered in Alphen aan den Rijn, the Netherlands, Wolters Kluwer employs approximately 21,400 professionals across more than 40 countries, serving clients in over 180 nations.

Frequently Asked Questions

What is the Best ALM Solution award?

The Best ALM Solution award recognizes the top technology solution for asset liability management, which is pivotal in helping financial institutions mitigate risks and ensure compliance.

Who is Wolters Kluwer?

Wolters Kluwer is a global leader in providing information and software solutions for various professionals, focusing on enhancing decision-making and operational efficiencies.

What is OneSumX?

OneSumX is Wolters Kluwer's comprehensive solution for asset liability management, risk management, and regulatory reporting, designed to meet the needs of financial institutions.

What are the key features of OneSumX for ALM?

Key features include proactive internal ALM metric coverage, robust simulation capabilities, and seamless integration of credit and market risk assessments.

How does Wolters Kluwer support sustainability?

Wolters Kluwer integrates Environmental, Social, and Governance (ESG) factors into its strategic solutions, guiding companies in making informed decisions for sustainable futures.

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