The bank will specifically use software modules from the company’s Governance, Risk & Compliance (GRC) division, as well as the CCH® Tagetik Corporate Performance Management (CPM) software offered by Wolters Kluwer’s Tax & Accounting (TAA) division.
Banca Progetto will specifically use Wolters Kluwer’s OneSumX for Risk Management module which empowers financial services firms to deliver processes, best practices, regulatory intelligence, and the analytics required of businesses in a highly regulated industry. OneSumX for Risk Management, offered by Wolters Kluwer GRC, not only helps achieve regulatory compliance, but delivers superior business value, seamlessly combining financial risk management with regulatory analytics across multiple risk classes. The OneSumX for Asset & Liability Management (ALM) component that will be used by the bank is a centralized data repository combining contract data, balance sheet structures, counterparty and market data.
Wolters Kluwer TAA, meanwhile, will provide the bank with access to the CCH® Tagetik CPM expert solution to capitalize on advanced, automated budgeting, planning and forecasting capabilities. With CCH® Tagetik, Banca Progetto will be able to perform granular profitability analysis on margins in real time. With the combined data, Banca Progetto will gain visibility to the full set of KPI’s and real-time financial reports.
With Wolters Kluwer risk and finance software solutions, Banca Progetto says it can gain greater accuracy, shorter planning cycles and better insight, to improve performance, and empower accountability at all levels of decision making.
“We are incredibly excited to be working with Wolters Kluwer, having sought out a truly integrated approach to managing the full spectrum of finance and risk reporting obligations,” commented Claudio Caputo, CFO at Banca Progetto. “Wolters Kluwer is highly regarded in the field and is known to put ALM, Risk and Strategic Planning at the center of its endeavors. We look forward to working with the company’s experts on this strategic implementation.”
“We are delighted to be able to help Banca Progetto ensure its ongoing finance and risk regulatory compliance,” added Kris Van Bavel, Managing Director of Wolters Kluwer Finance, Risk & Reporting for the EMEA region. “We continue to attract a wide range of clients in Italy and throughout the region, and look forward to working with the talented team at Banca Progetto on the implementation of this integrated risk and finance software solution.”
“We have a strong track record with CCH® Tagetik CPM projects and a dedicated team in financial services. With the combination of these expert solutions, we can better help our customers make critical decisions every day and focus on long-term value creation,”said Josep Aragonès Ros, Vice-President & General Manager at Wolters Kluwer CCH® Tagetik for the EMEA region. “Our top priority is to empower Banca Progetto finance team with data-driven insights to drive profitability and boost performance while managing risk.”
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.