Wolters Kluwer Financial Services, a leading worldwide provider of compliance and risk management solutions for the financial services industry, is strengthening its presence in Germany with the opening of a new office in Frankfurt.
The company entered the German financial services market last November with its first office in Cologne. At the heart of Germany's financial centre, Frankfurt is a key location for the business' growth.
"Many of our customers are based in Frankfurt so it was the logical next step to build up a presence here, shortly after our successful launch in Cologne," said Werner Maislinger, regional sales director, Germany, at Wolters Kluwer Financial Services. "Moreover, we have reinforced our team by hiring two new colleagues and will look to further expand our business in the sector of regulatory reporting through Wolters Kluwer Financial Services' FRSGlobal business."
FRSGlobal, which became part of Wolters Kluwer Financial Services in September 2010, is an industry-recognised leader in unified global regulatory reporting and risk management solutions. Together the combined company offers solutions that help compliance, risk and audit professionals manage risk across their organisation and meet regulatory requirements, including those related to Basel III and Solvency II.
Earlier this year, FRSGlobal incorporated reporting for banks operating in Germany into its global regulatory solution. The application was developed to help address the complex reporting processing requirements faced by banks operating in Germany and covers the broad range of financial and transaction reporting requirements they must adhere to.
"The regulatory environment is constantly changing. Therefore, financial organisations have to be able to react fast and flexibly on these changes," said Hans Willi Hüsch, program manager, Germany, at Wolters Kluwer Financial Services. "By coupling innovative technology with deep compliance and risk expertise, we are able to help our clients in a target-oriented way."