Aegean Baltic Bank of Greece (ABB) has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting and OneSumX for Risk Management as its integrated risk and regulatory reporting software solution, helping the bank to meet its Basel IV and CRD V obligations.
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“Wolters Kluwer’s software provides the extensive functional coverage and scalability that the bank required when exploring options in both the risk and reporting fields”
OneSumX for Regulatory Reporting combines bank data into a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries.
The bank will also implement a number of risk management modules, including OneSumX for Asset & Liability Management (ALM). The ALM component of OneSumX for Risk Management is based on Wolters Kluwer’s integrated platform, enabling balance sheet modeling, stress testing and dynamic planning. Wolters Kluwer’s comprehensive OneSumX Liquidity Risk Management solution, meanwhile, combines a risk management/stress engine and regulatory reporting platform which will enables ABB to monitor, manage and report liquidity risk.
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ABB, operating under the regulatory supervision of the Central Bank of Greece, provides corporate and investment banking products and services to shipping companies in Greece. The company is primarily involved in contracting and the administration of syndicated loans granted to shipping corporations.
“Wolters Kluwer’s software provides the extensive functional coverage and scalability that the bank required when exploring options in both the risk and reporting fields,” commented Konstantinos Hadjipanayotis, Chairman of the Board and Deputy CEO at ABB. “The software allows us to take a truly integrated approach to our risk management and regulatory reporting obligations,” added Dimitris Daispyros, Head of Risk at ABB.
