Aegon opts for Wolters Kluwer’s OneSumX for operational risk
Pension, insurance and investment management firm Aegon is replacing its local risk systems with Wolters Kluwer’s OneSumX for operational risk management.
Charles Garthwaite, global head of operational and conduct risk at Aegon, says his company needed “a global solution” that could “comprehensively manage Aegon’s requirements”.
Following local implementations in the UK and within its asset management business, Aegon will roll out the new software across more than 20 countries.
According to Wolters Kluwer, OneSumX for operational risk automates the process of collecting, storing, analysing, tracking and reporting on information relevant to operational losses, risk and control assessments.
Ohpen to Cofunds
Aegon has been active this year.
It embarked on a large technology project with several specialist tech providers – to move the acquired Cofunds business from the International Financial Data Services (IFDS) platform.
Aegon revealed it was partnering with online lending platform Funding Circle. The four-year co-operation sees Aegon bring in £160 million of investment. UK firms will receive funding over the first 12 months of the collaboration and Aegon reckons this in turn could create up to 6,400 new jobs.
In a similar friendly deal, Aegon announced it was partnering with core banking engine provider Ohpen to develop a new platform for its Dutch services. The platform will be used for the administration and distribution of its savings, pension and investment products.