Wolters Kluwer Financial Services (WKFS) has revamped its various governance, finance, risk and Compliance (GFRC) solutions, which are now under the company’s new OneSumX brand.
“The move allows [us] to provide financial organisations with 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 company stated
The OneSumX brand replaces several of WKFS’s solutions and brands, including ARC Logics, BankReg, Financial Studio, Summix, RiskPro, RegPro, SVENSON, Wiz Sentri and Examiner.
“WKFS has helped its customers stay ahead of changing marketplace dynamics by investing heavily in existing product innovation,” said Raffi Festekjian, president and chief executive (CEO) of the company’s finance, risk and 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,”
The company added that OneSumX allows financial organisations to address a single risk or business issue, but in the context of a much larger and holistic way of managing GFRC. An organisation’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.
The OneSumX solution suite includes:
- OneSumX Finance, Risk and Reporting: Enables complete data transparency for financial risk, regulatory reporting, finance and performance management, taking multiple, disparate data sources into an integrated, centralised 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 behavioural review of a customer’s accounts.
- 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.
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