Bank BPS upgrades risk reporting platform
Written by Chris Lemmon
Warsaw-based Bank Polskiej Spóldzielczosci SA (Bank BPS) has chosen Wolters Kluwer to provide an integrated risk and regulatory reporting solution following a competitive tender process.
Bank BPS has chosen to use the OneSumX solution for static and dynamic projection analysis, liquidity reporting, interest rate and FX risk with value at risk analysis on top of it.
In addition to the risk solution, the bank will use OneSumX to support liquidity coverage ratio, additional liquidity monitoring metrics, net stable funding ratio and assets encumbrance regulatory reporting in Poland.
OneSumX Regulatory Reporting 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 50 countries, helping to ensure the solution is current at all times.
Maja Kraszewska, director of the financial risk department at Bank BPS, said: “We required a system in which risk and regulatory reporting were integrated in an optimal and seamless way. Wolters Kluwer provides this capability.”
Kris Van Bavel, managing director EMEA for Wolters Kluwer’s Finance, Risk & Reporting business, added: “Our integrated risk and regulatory reporting platform, supported by our detailed understanding of the Bank’s business needs and strong local presence were some of our key differentiators in the RFP process. We are delighted to have Bank BPS as a new customer in the region and look forward to working with them on the implementation.”