‘Summix’ combines aspects from the RegPro, RiskPro and Financial Studio product ranges from the organisation’s former FRSGlobal and FinArch business units.
It will utilise an integrated data layer to tackle the tactical and strategic needs of finance, risk management, performance and regulatory business areas of financial institutions.
Wolfgang Prinz, vice president of product development at Wolters Kluwer Financial Services, said the new solution will provide the market with a more defined product offering.
The single platform solution will addresses the finance, risk, compliance and performance needs of a financial institution across multiple jurisdictions, said Mr Prinz.
It will assist in the reporting requirements for finance, risk management, performance and regulation with an integrated modular solution suite while its robust data model creates a uniform approach towards client reporting across different regimes. The Summix solution also offers a regulatory capability which aids institutions in the compliance of local regulatory requirements over 50 different jurisdictions across the globe. Its unique regulatory update service involves a team of experts regularly analysing changes to regulations and requirements minimising the risk of institutions becoming non-compliant, the group stated.
