Wolters Kluwer’s Operational Risk Solution Recognized for Excellence and Innovation
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  • Wolters Kluwer’s Operational Risk Solution Recognized for Excellence and Innovation

    May 08, 2019

    Wolters Kluwer’s Compliance Program Management (CPM) business has been recognized for its Operational Risk expertise, winning RegTech Insight’s Best Vendor Solution Award for Managing Operational Risk, 2019. The business has also won Operational Risk accolades from US Business News and Corporate Vision magazine, celebrating the prominent market position of its OneSumX for Operational Risk solution.

    Wolters Kluwer CPM, which is part of the company’s Compliance Solutions business sits within Wolters Kluwer’s Governance, Risk & Compliance division. Wolters Kluwer CPM offers solutions that enable chief compliance officers at banks, securities, and insurance companies to stay on top of compliance with a myriad of financial and non-financial regulations. OneSumX for Operational Risk enables financial services organizations to meet and adapt to internal operational risk requirements by automating and simplifying the process of collecting, storing, analyzing, tracking and reporting on information relevant to operational losses and risk and control assessments.

    The RegTech Insight awards are organized by A Team Group, the financial technology news service and content consultancy firm founded by ex-Wall Street Journal, Risk and Waters magazine journalists in 2001. The RegTech Insight Advisory Board, tasked with choosing the shortlist for the awards, includes senior representatives from major banking groups including Barclays, BNY Mellon, Citi, Credit Suisse, HSBC, Société Générale and Standard Chartered.

    “We are delighted that our cross-platform readership of over 20,000 senior technology officers and data specialists clearly rated Wolters Kluwer as the Best Vendor Solution for Managing Operational Risk in a very competitive field. We congratulate them on their prestigious RegTech Insight Award win," said Angela Wilbraham, CEO of A-Team Group.

    Wolters Kluwer CPM has also been honoured by US Business News which has named OneSumX for Operational Risk its Global Operational Risk Platform of the Year, 2019. Corporate Vision magazine, meanwhile, has named OneSumX for Operational Risk its International Operational Risk Platform of the Year, 2019, for the second year running.

    “On behalf of Wolters Kluwer I would like to thank A Team Group, Corporate Vision and US Business News for recognizing the superior technology and user functionality of OneSumX for Operational Risk. Independent recognition of our market leading position in this important area for us is always welcome news,” said Steven Meirink, Executive Vice President and General Manager of Wolters Kluwer’s Compliance Solutions business. “Our customers in Europe and the U.S. are faced with ever mounting operational risk pressures and we continue to address customer requirements through OneSumX for Operational Risk. Our experts are on hand to advise the market about the ways to more effectively address these operational risk management requirements.”

    Winners of the U.K.-based Corporate Vision magazine’s annual Technology Innovator awards are decided by a combination of votes gathered from its network of respected industry partners and in-house research, based on submission content and market knowledge. The US Business News awards were decided by an expert panel of judges, including the editorial team, again based on evidence of market excellence and innovation.

    About Wolters Kluwer Governance, Risk & Compliance

    Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, stay competitive and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

    Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2018 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and  employs 19,000 people worldwide.