Source: Wolters Kluwer
mBank, Poland’s fourth largest banking group based on assets, has chosen Wolters Kluwer’s OneSumX for Risk Management as its risk software.
The mobile digital bank operates across three markets in Poland, the Czech Republic and Slovakia. The bank will specifically use the Wolters Kluwer’s solution for Asset and Liability Management (ALM) as well as Market Risk and profitability (Funds Transfer Pricing).
Wolters Kluwer Finance, Risk & Reporting’s (FRR) OneSumX Market Risk module 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 modelling.
The ALM module of OneSumX for Risk Management, meanwhile, is based on Wolters Kluwer’s integrated platform, enabling balance sheet modelling, stress testing and dynamic planning and forecasting.
OneSumX for Risk Management provides the extensive functional coverage and scalability that mBank required when exploring options for risk software. “Wolters Kluwer has an excellent reputation for market leading risk software and has good local market knowledge and experience in implementing such solutions,” commented Łukasz Witkowski, Director of the Balance Risk Management Department at mBank. “We look forward to working with Wolters Kluwer’s experts on the implementation in what is undoubtedly an important project for the bank,” added Patrycja Kołodziejczyk, Manager of the Strategic Projects Team, Risk, at mBank.
“We are delighted to be working with mBank, on this major implementation project,” said Kris Van Bavel, Managing Director of Wolters Kluwer’s FRR business for the Europe, Middle East & Africa region. “The extensive implementation experience of Wolters Kluwer’s experts provides the high level of service mBank requires, alongside our extensive local expertise and exceptional functional coverage. We very much look forward to working with the bank on this project.”