The Philippines-based bank will implement the solutions to work alongside other Wolters Kluwer software modules, including OneSumX for Finance. EastWest is a universal bank in the Philippines that provides a wide array of products and services to retail and mid-market corporate customers.

Wolters Kluwer OneSumX Market Risk solution provides an integrated view of profit and loss and risks on balance sheet. Based on a centralized data structure specifically designed for financial institutions, the OneSumX Market Risk solution offers all modern risk analytics and techniques, from basic sensitivity and gap analysis, through more advanced Value at Risk (VaR) techniques and into simultaneous dynamic simulation of credit and market risk, based on Monte Carlo modeling.

The ALM component of OneSumX for Risk Management is based on Wolters Kluwer’s integrated platform, enabling balance sheet modeling, stress testing and dynamic planning.

“Wolters Kluwer is a trusted technology partner of ours, having provided software that helps us manage our financial reporting obligations for many years now,” commented Grace Ang, Chief Risk Officer, at EastWest. “We look forward to working with Wolters Kluwer’s experts on what is an important implementation for us in the risk area.”

Wolters Kluwer FRR, which is part of the company’s Governance, Risk & Compliance division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.

“We are delighted to be expanding our relationship with EastWest to ensure it has a robust platform for managing its risk profile,” said Rainer Fuchsluger, Managing Director, APAC, for Wolters Kluwer’s Finance, Risk & Reporting (FRR) business. “Our business continues to attract clients for its leading risk solutions across the APAC region and we very much look forward to working with EastWest on the implementation.”

The news follows a busy end to the year for the company. Just last month Chartis Research revealed Wolters Kluwer FRR as the Category Winner for both Regulatory Reporting and Liquidity Risk in the annual RiskTech100® report. Notably, this is the eighth time in nine years that Wolters Kluwer has achieved the Regulatory Reporting honor and the first time that Wolters Kluwer has triumphed in the Liquidity Risk rankings.

Other significant Wolters Kluwer achievements include ranking #8 overall, with the six place rise from last year’s rankings being one of the largest jumps in the report. Wolters Kluwer also gained the second place honorable mention in the Regulatory Intelligence category and joint #4 in Functionality, ranking as the #1 provider for Customer Satisfaction within the Top Ten.

The business also recently signed its first client for its new software-as-a-service (SaaS) Regulatory Reporting solution. BNG Bank, which is partially owned by the State of the Netherlands, will use the solution to automate its regulatory reporting processes and to better ensure reconciliation of reporting between the bank’s own functional departments.

The SaaS solution, like the OneSumX for Regulatory Reporting on-premise solution, combines bank data into a single source of data to ensure consistency, ease of reconciliation and accuracy. It includes access to Wolters Kluwer’s unique Regulatory Update Service which is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries, factoring the potential impact of future changes into the OneSumX portfolio and ensuring clients’ ongoing compliance. As well as ensuring predictability of cost, the SaaS offering is a secure platform which provides flexibility of infrastructure for banks undergoing growth.