Wolters Kluwer FS Vendor Highlights - RiskTech100 2012
Posted: 12 December 2012 | Source: Chartis
Wolters Kluwer Financial Services is a leading worldwide provider of finance, risk, compliance and audit technology solutions and services. With more than 30 offices in 20 countries, the company serves over 15,000 financial organizations all over the globe. Its approximately 2,300 employees include over 400 in-house compliance, and risk management experts, and a range of lawyers, compliance analysts, and specialists, as well as former regulators. It is part of Wolters Kluwer, a $4.7 billion company.
In July 2012, the company acquired FinArch, a provider of integrated finance, risk, and performance measurement solutions. The acquisition will enable Wolters Kluwer Financial Services to provide enhanced value to its customers, empowering them to harness their data and manage risk and financial performance and regulatory compliance more effectively. At the same time, it will help to reduce costs and increase operational effectiveness. FinArch’s solutions will complement Wolters Kluwer Financial Services’ existing products, including FRSGlobal, whose risk management capabilities are used by 40 of the world’s top banks. Between them, they can provide fully automated regulatory reports for a total of 50 countries.
Wolters Kluwer Financial Services plans to maintain both products, which are currently sub-brands, and is working to identify ways to combine both products’ key strengths. Both products will soon be brought under the Wolters Kluwer Financial Services brand.
FinArch products are already used by more than 80% of the world’s top 50 financial firms, serving all types of organizations in 28 countries. Other products include the company’s ARC Logics enterprise risk management suite, which is used by more than 900 banks, insurance companies, and asset managers to support their risk and compliance processes and the TeamMate audit management system, which is used by over 85,000 auditors worldwide.