The acquisition is intended to strengthen Wolters Kluwer Financial Services’ global risk and compliance position and extend its capabilities into integrated finance, risk and performance management. The FinArch management team will join Wolters Kluwer Financial Services.
“By better harnessing the power of their data across all asset classes, financial organizations can more effectively manage risk and financial performance and help ensure regulatory compliance while reducing costs and increasing operational effectiveness,” said Brian Longe, CEO of the Wolters Kluwer Financial & Compliance Services division. “Together with our risk and regulatory reporting solutions, we’ll be able to offer our customers more options and greater flexibility to meet the needs specific to their organization and the changing marketplace. We will continue to build out our global capabilities, providing regulatory reporting for 50 countries and a full suite of solutions to help better manage performance and meet the most critical risk needs financial organizations face today and into the future.”
FinArch’s integrated finance, risk and performance management solution, Financial Studio, includes tools for accounting, risk and capital management, management information and compliance. With general ledger and sub-ledger capabilities, Financial Studio helps customers meet International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) and address requirements of: Basel II and Basel III, RAROC, and other risk-related performance measurement ratios.
“With a shared vision for providing knowledge-rich solutions to manage the complexity around financial performance and risk management, we will continue to build out our solutions, combining global scale with local capabilities, expertise and service, ultimately helping more organizations make the right business decisions in today’s evolving global environment,” said Dirk De Beule, managing director for FinArch.
