Wolters Kluwer Financial Services, a global risk and compliance firm, has acquired FinArch, the supplier of Financial Studio, a fully integrated finance, risk, and performance-management tool for banks.

The combined company will “provide financial institutions with better control, insight, and management of their financial data, and, ultimately, an enterprise view and enhanced management of their risk and performance,” according to Wolters Kluwer.

Financial Studio brings together the tools banks need to manage, measure, and report all financial activities, including: accounting, risk and capital management, management information, and compliance. With general ledger and subledger capabilities, Financial Studio helps customers meet International Accounting Standards and International Financial Reporting Standards, while also addressing the requirements of Basel II and Basel III, RAROC, and other risk-related performance measurement ratios. Organizations are able to manage a dynamic regulatory environment, while reducing the cost of compliance—allowing them to be more competitive in the long run, according to Wolters Kluwer.

“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,” says Brian Longe, CEO of the Wolters Kluwer Financial & Compliance Services division.


[This article was posted on July 23, 2012, on the website of ABA Banking Journal, www.ababj.com.]          

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