Nordea Bank Russia takes a risk on Wolters Kluwer OneSumX
The MIS solution is part of the firm’s business analytics offering. OneSumX is designed to manage finance, risk and compliance and “improve organisational efficiency and profitability”.
NBR will specifically use OneSumX risk management for asset and liability management (ALM), including EaR and Economic Capital.
Alexander Dugin, NBR deputy chief risk officer, says it chose Wolters Kluwer because it has “an impeccable reputation and expertise in delivering best risk management and MIS reporting solutions”.
OneSumX will be integrated with NBR’s core banking system, CFT-Bank, supplied by domestic vendor Centre of Financial Technologies (CFT).
Other banks that have signed up to use OneSumX over the last year include BBVA’s subsidiary in the UK, CIBC and Equitable Bank in Canada, ABLV Bank in Latvia, Sberbank in Russia and Bank of Jordan in the Middle East.