Summix incorporates Finance, Risk, Compliance and Performance solutions into one suite for global financial institutions
Wolters Kluwer Financial Services today unveiled its new Finance, Risk, Compliance and Performance solution suite ‘Summix’, at its 2013 European Client Conference in London. The new solution suite brings together the offerings from the organization’s former FRSGlobal and FinArch business units including the RegPro, RiskPro, and Financial Studio product ranges.
Through an integrated data layer, Summix addresses the tactical and strategic needs of finance, risk management, performance and regulatory business areas of financial institutions.
The architecture of the Summix solution suite is made of the following elements:
- Integrated Modular Solution Suite – Summix addresses the combined requirements of finance, risk management, performance and regulatory reporting in an integrated modular solution suite, delivered on business orientated data management architecture.
- Robust Data Model – Summix establishes an integrated data management framework for multiple use-cases across the finance, risk and regulatory compliance, aiding in establishing a standardized approach to regulatory and client reporting across multiple regimes.
- Leading Regulatory Reporting Coverage – Summix is the only solution to offer institutions a regulatory reporting capability which enables compliance with the local regulatory requirements in 50 jurisdictions around the world.
- Unique Regulatory Update Service (RUS) – RUS is a service incorporated into the regulatory reporting arm of Summix and maintained by our team of experts who analyze updates to regulations and requirements on a continuous basis. This minimizes your risk of non-compliance and the associated costs involved.
Summix was revealed at the European client conference which featured a host of speeches and panel discussions from industry experts, including a keynote presentation by Sebastien de Brouwer, Executive Director of Retail, Legal, Economic & Social Policy at the European Banking Federation. Wolters Kluwer Financial Services’ clients from across Europe were in attendance at the conference, providing the opportunity to discuss the industry challenges they are faced with.
“The European Client Conference presents us with the perfect platform to introduce our new solution suite to our customers and to assure them of the continued high-level performance they have come to expect from Wolters Kluwer Financial Services,” said Wolfgang Prinz, vice president, Product Management at Wolters Kluwer Financial Services, Finance, Risk & Compliance. “Summix will provide the market with a more defined product offering, highlighting Wolters Kluwer Financial Services’ core capabilities and unparalleled expertise on one singular platform which addresses the finance, risk, compliance and performance needs of a financial institution, across multiple jurisdictions”
Incumbent product names such as RegPro, RiskPro, Financial Studio, TNG, Report Generator amongst others, are retired from the market.