The bank has selected Wolters Kluwer’s product following a competitive tender.

OneSumX is a system of complementary and comprehensive solutions and services designed to manage finance, risk and compliance and improve organizational efficiency and profitability. NBR will specifically use OneSumX Risk Management for Asset and Liability Management (ALM), including EaR and Economic Capital.

The solution is based on Wolters Kluwer’s integrated data architecture allowing to manage risks across an organization. The solution supports balance sheet modeling, risk measurement and management. NBR will also use the OneSumX MIS Reporting solution for key ALM and Market Risk measures.

“Nordea adheres to high standards in risk management. That is why, we need solutions meeting our tough criteria,” comments Alexander Dugin, NBR Deputy Chief Risk Officer. “We chose Wolters Kluwer because it has an impeccable reputation and expertise in delivering best risk management and MIS reporting solutions.”

“The news that Nordea Bank Russia has chosen our risk and MIS reporting solutions for its operations is a further indication of our position as a leading software provider in the region,” commented Kris Van Bavel, managing director of EMEA for Wolters Kluwer’s Finance, Risk and Reporting business. “We have a deep understanding of the Russian market and can offer suitable solutions to banks so that they get aligned with increasingly tough requirements. We look forward to working with Nordea Bank Russia (NBR) on the implementation.”