The decision was made so the bank would meet its Basel IV and CRD V obligations. OneSumX for Regulatory Reporting combines bank data into a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service.
The bank will also implement OneSumX for Asset & Liability Management (ALM). The ALM component of OneSumX for Risk Management is based on Wolters Kluwer’s integrated platform, enabling balance sheet modeling, stress testing and dynamic planning. Wolters Kluwer’s OneSumX Liquidity Risk Management solution, meanwhile, combines a risk management/stress engine and regulatory reporting platform which will enable ABB to monitor, manage and report liquidity risk.
ABB, operating under the regulatory supervision of the Central Bank of Greece, provides corporate and investment banking products and services to shipping companies in Greece. The company is primarily involved in contracting and the administration of syndicated loans granted to shipping corporations.
Wolters Kluwer FRR, which is part of the company’s Governance, Risk & Compliance division, provides integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.
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