Published Date : Jul 29, 2014
Société Générale Private Banking has selected Wolters Kluwer Financial services to help the former with facilitating compliance with Capital Requirements Directive IV in Belgium. Wolters will provide solutions such as regulatory reporting and risk management. The solution partner will provide the bank with risk analyses of liquidity and counterparty credit, capital, automated reports of COREP XBRL returns.
Previously too, Société Générale Private Banking has managed Wolters risk management and regulatory reporting according to Basel II requirements at Belgium. The partnership comes with an intention to continue helping Wolters Kluwer Financial Services meet the demands of Basel III.
Head of Finance at Société Générale Private Banking, Bart Folens stated, Wolters Kluwer Financial Services has been a trusted partner for integrated risk management and regulatory reporting solutions for a good time. It is in the light of this trusted partnership that both the companies will continue working together.
According to Clive Pedder, managing director EMEA at Wolters Kluwer Financial Services the new set of directives by Basel III for financial institutions will take a toll on manual IT systems and infrastructure, and automated technology is the just one part of providing a solution for it. However, a good wealth of knowledge about these requirements, along with par excellence consulting services will help the solution provider do a near perfect job.