Wolters Kluwer Financial Services announced today that Tennessee-based Eastman Credit Union (ECU) has successfully implemented the company’s OneSumX® Asset Liability Management solution, empowered by Empyrean.
According to ECU officials, the ALM solution has provided it with a sound foundation for efficient, effective and confident ALM analysis.
“Based on our need to constantly seek process improvement, we decided to migrate from another vendor system earlier this year, and we have been very pleased with the results that the OneSumX ALM solution has provided us,” said Tonja Fish, treasurer for ECU. “We’ve reduced computing times from a couple of hours per compute cycle to a few minutes. Also, the system’s user-friendly functionality has enabled our team to generate risk analysis insights more efficiently and quickly. This has enhanced our resource efficiencies, which better positions us to serve customers and to grow our business.”
The ALM solution is part of the OneSumX solution suite, a complementary and comprehensive ecosystem of governance, finance, risk and compliance solutions and services that allows financial organizations to address a single risk or business issue, but in the context of a much larger and more holistic way. An organization’s finance, risk and compliance areas can work together with a common goal of helping maintain profitability and find additional ways to safely grow the business.
“We’ve been very pleased with the results that ECU has generated since implementing our solution, one that was specifically designed by risk management practitioners,” said Chris Maclin, vice president, Finance, Risk & Reporting for Wolters Kluwer Financial Services. “With its successful implementation of the OneSumX solution, ECU now has the kind of granularity needed for accurate ALM analysis—on one platform. Our solution is dedicated to user productivity and efficiency, providing the flexibility to model the unique characteristics of individual institutions, and it is one of the most intuitive modeling systems available in the market.”
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