Source: Wolters Kluwer
Wolters Kluwer Financial Services, a leading worldwide provider of compliance and risk management solutions for the financial services industry, today announced the expansion of its enterprise risk management (ERM) offering, ARC Logics for Financial Services, to the European marketplace.
The offering helps financial services professionals better understand and evaluate compliance, operational and financial risk across their entire organisations.
The ARC Logics for Financial Services solution suite combines the company's proven Sword risk management technology platform with Wolters Kluwer Financial Services' trusted European regulatory content and compliance expertise. Wolters Kluwer acquired the Sword solution in 2008, which has now officially become part of the ARC Logics offering.
The ARC Logics solution suite also draws upon the financial risk management and reporting capabilities of FRSGlobal, a part of Wolters Kluwer Financial Services that is utilized by 41 of the world's top 50 banks. As a result, financial organisations, including former Sword customers, can utilize ARC Logics to collaboratively manage compliance, operational and financial risks, as well as internal audit, across all business lines and legal entities, and across multiple risk disciplines.
This approach allows organisations to take a coordinated approach for completing risk assessments, reporting risk incidents and issues, providing control attestation, and producing appropriate reports for regulators, board members, executive management and shareholders. With ARC Logics, organisations are better able to fulfill immediate enterprise risk management objectives in a targeted, cost-effective manner while concurrently building a holistic, enterprise-wide program.
"Solvency II, Basel III and other global regulatory guidelines present organisations internationally with a number of new compliance and risk management challenges," said Todd Cooper, vice president and general manager of Wolters Kluwer Financial Services' Enterprise Risk Compliance Business. "ARC Logics provides them with the actionable regulatory intelligence and the tools they require to holistically and effectively manage these and compliance, operational and financial risks across their entire operations."