Wolters Kluwer Financial Services Consolidates GFRC Solutions under OneSumX Brand

A comprehensive ecosystem of governance, finance, risk and compliance solutions enables what the vendor calls a forward-looking approach to compliance, risk and performance management.

(Façade of the U.S. Securities and Exchange Commission headquarters in Washington, D.C. Photo credit: AgnosticPreachersKid.)

Wolters Kluwer Financial Services has united its portfolio of Governance, Finance, Risk & Compliance (GFRC) solutions under the company’s new OneSumX brand. By doing so, Wolters Kluwer says it will be able to offer financial organizations what the vendor characterizes as a complementary and comprehensive ecosystem of GFRC solutions and services that enables them to take a forward-looking approach to managing compliance, risk and performance.

The OneSumX brand replaces many of Wolters Kluwer Financial Services industry-leading solutions and brands, including ARC Logics, BankReg, Financial Studio, Summix, RiskPro, RegPro, SVENSON, Wiz Sentri and Examiner, the vendor reports.

Raffi Festekjian, CEO, Finance, Risk & Compliance, Wolters Kluwer Financial Services.

Raffi Festekjian, CEO, Finance, Risk & Compliance, Wolters Kluwer Financial Services.

“Wolters Kluwer Financial Services has helped its customers stay ahead of changing marketplace dynamics by investing heavily in existing product innovation, comments Raffi Festekjian, president and CEO of Wolters Kluwer Financial Services’ Finance, Risk & Compliance business. “At the same time, we’ve made a number of acquisitions that have allowed us to extend and expand upon the overall GFRC capabilities we can offer our customers.”

“By bringing all of this together under OneSumX, we are deepening our commitment to our customers. We’re enabling them to create their own specific GFRC vision and make it a reality,” Festekjian adds.

OneSumX allows financial organizations to address a single risk or business issue, but in the context of a much larger and holistic way of managing GFRC, enabling an organization’s Finance, Risk and Compliance areas to work together with a common goal of helping maintain profitability and find additional ways to safely grow the business, a Wolters Kluwer statement asserts.

The OneSumX solution suite includes:

  • OneSumX Finance, Risk and Reporting – Enables complete data transparency for financial riskregulatory reportingfinance and performance management, taking multiple, disparate data sources into an integrated, centralized data architecture;
  • OneSumX Governance, Risk and Compliance – Increases transparency and control across the financial institution with high-level reporting, interactive dashboards and modular components that measure, monitor and manage compliance, operational and enterprise risk;
  • OneSumX Financial Crime Control – Introduces next generation identification of fraudulent activity based upon a real-time, cross-channel behavioral review of a customer’s accounts; and
  • OneSumX Audit Management – Helps companies manage a wide range of audit-related activities, data and processes in a single, comprehensive framework, and can support all types of audits, including internal audits, operational audits, IT audits, supplier audits and quality audits.
  • Learn more about GFRC from Wolfgang Prinz, vice president, Product Development with Wolters Kluwer Financial Services. For more information on OneSumX, visit www.WoltersKluwerFS.com/OneSumX.

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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