Société Générale Private Banking has selected Wolters Kluwer Financial Services’ risk management and regulatory reporting solutions in order to help comply with Basel III in Belgium.
The solutions, as part of the Summix data platform will provide the bank with capital, counterparty credit and liquidity risk analyses, as well as automated reporting of the COREP XBRL returns, in line with Capital Requirements Directive IV (CDRDIV) expectations, which is the European implementation of Basel III.
In the past, Société Générale, used Wolters Kluwer to help with Basel II requirements in Belgium, and the bank has also implemented the Regulatory Reporting solution for Singapore and Hong Kong regulatory returns.
“Ensuring our IT infrastructure is as robust and efficient as possible is essential to meeting new regulatory requirements such as CRDIV, but also helps us to strengthen our business whilst optimizing performance,” says Bart Folens, head of finance at Société Générale Private Banking. “Wolters Kluwer Financial Services has proved to be a trusted provider of integrated risk management and regulatory reporting solutions to our business. It is this trust, along with their expertise and track record of delivery, that we opted for its solution and services once again.”
“The new requirements directed at financial institutions by Basel III place significant burden on manual IT systems and infrastructure; but automated technology is only part of the solution,” says Clive Pedder, managing director EMEA at Wolters Kluwer Financial Services. “In-depth knowledge of these requirements, at both the global and local level, combined with on-hand consulting services, helps ensure that institutions optimizing our Basel III risk and regulatory reporting solution are provided with the necessary means to help them work towards full compliance.”
Société Générale Selects Wolters Kluwer's Basel III Solution
Société Générale Private Banking has selected Wolters Kluwer Financial Services' risk management and regulatory reporting solutions in order to help comply with Basel III in Belgium.
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