19 April 2015

SocGen Private Banking selects Wolters Kluwer risk-management and reporting tech

28 July 2014  |  1534 views  |  0 Source: Wolters Kluwer Financial Services

Wolters Kluwer Financial Services announced today that one of the largest European financial services groups, Société Générale Private Banking, has selected its Risk Management and Regulatory Reporting solution to help facilitate compliance with the Capital Requirements Directive IV in Belgium.

The solution platform will provide the bank with capital, counterparty credit and liquidity risk analyses, as well as automated reporting of the COREP XBRL returns, in line with CRDIV expectations, the European implementation of the global directive, Basel III.

Société Générale Private Banking has also previously implemented Wolters Kluwer Financial Services' Risk Management and Regulatory Reporting solution to address its Basel II requirements in Belgium. The French institution, which has also implemented the Regulatory Reporting solution for Singapore and Hong Kong regulatory returns, decided to continue its partnership with Wolters Kluwer Financial Services in Belgium to help meet the new Basel III requirements.

"Ensuring our IT infrastructure is as robust and efficient as possible is essential to meeting new regulatory requirements such as CRDIV, but also helps us to strengthen our business whilst optimizing performance," said Bart Folens, Head of Finance at Société Générale Private Banking. "Wolters Kluwer Financial Services has proved to be a trusted provider of integrated risk management and regulatory reporting solutions to our business. It is this trust, along with their expertise and track record of delivery, that we opted for its solution and services once again."

"The new requirements directed at financial institutions by Basel III place significant burden on manual IT systems and infrastructure; but automated technology is only part of the solution," says Clive Pedder, managing director EMEA at Wolters Kluwer Financial Services. "In-depth knowledge of these requirements, at both the global and local level, combined with on-hand consulting services, helps ensure that institutions optimizing our Basel III risk and regulatory reporting solution are provided with the necessary means to help them work towards full compliance." 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related company news

 

Top topics

Most viewed Most shared
UK banks covering up cybercrime losses - C...
6670 views 13 comments | 26 tweets | 13 linkedin
BBVA buys UX firm Spring Studio
6433 views comments | 32 tweets | 17 linkedin
Card is king as cash usage continues to fa...
6108 views comments | 22 tweets | 14 linkedin
Digital and core renewal to drive bank IT...
4774 views comments | 32 tweets | 25 linkedin
World Bank reports big drop in numbers of...
4580 views 10 comments | 36 tweets | 13 linkedin

Featured job

to $175k base, double OTE, benefits
New York City, NY (USA)

Find your next job