Aegean Baltic Bank

Aegean Baltic Bank Partners with Wolters Kluwer to Meet Risk & Regulatory Compliance

Aegean Baltic Bank - Wolters KluwerAegean Baltic Bank of Greece has revealed in its latest announcement that it has partnered with Dutch American information services provider Wolters Kluwer for meeting its Risk Management and Regulatory compliance requirements. As per statement released by the bank, it has partnered with the information services provider to gain access to its integrated product solutions – OneSumX for meeting its Basel IV & CRD V obligations. The Aegean Baltic Bank of Greece is a Central Bank of Greece regulated financial service provider that is known for providing corporate and investment banking services to shipping companies in the country. In particular, the bank focuses on providing contracting and administration of syndicated loans granted to shipping corporations based in Greece. The bank will use OneSumX tool for regulatory reporting and risk management software tool as its integrated risk and regulatory reporting solutions.

The software’s regulatory reporting function combines various bank data into one single source of data for ensuring consistency, reconciliation and accuracy by leveraging on Wolters Kluwer’s Regulatory Update service. This is a unique service from the information services provider is handled by in-house experts who continue to actively monitor regulations in across 30 countries. Alongside regulatory reporting, the bank will also use the tool’s risk management modules to implement Asset & Liability Management (ALM). This ALM component uses Wolters Kluwer’s integrated platform to facilitate balance sheet modelling, stress testing and dynamic planning. The OneSumX software also provides comprehensive liquidity risk management solutions by combining its risk management, stress engine and regulatory reporting features to allow the bank to monitor manage and report its liquidity based risks.

Commenting on this partnership, Konstantios Hadjipanayotis – Chairman of the board & Deputy CEO at ABB said “Wolters Kluwer’s software provides the extensive functional coverage and scalability that the bank required when exploring options in both the risk and reporting fields”.

Speaking on same note, Dimitris Daispyros – Head of Risk at ABB added “The software allows us to take a truly integrated approach to our risk management and regulatory reporting obligations”.

Mr. Kris Van Bavel – Managing Director of Wolters Kluwer’s Finance, Risk & Reporting (FRR) Business in EMEA said “We are delighted to be working with ABB on this important project for the bank. Basel IV and CRD V will present huge challenges for all banks and so we are happy to be assisting ABB with its all-important regulatory compliance. Regulatory reporting and risk mitigation are key considerations for all banks now more than ever. Our experts are on hand to provide all important access to our award winning software and we look forward to working with ABB on this implementation project”.