ABN AMRO, the third largest bank in the Netherlands with more than 22,000 employees, has chosen Wolters Kluwer and SAS to provide an integrated finance, risk and regulatory reporting software solution.
The implementation of the software is part of the bank’s major transformation project, the Finance and Risk Architecture Alignment Initiative (FRAAI), which is designed to meet increasing requests internally as well as from regulatory bodies for ever more granular or different data within shorter time lines, according to a statement from the companies.
As part of integrated application landscape, ABN AMRO will use SAS risk and finance capabilities including data management and visualization, finance and risk analytics, enterprise model risk management and process orchestration.
ABN AMRO will also use Wolters Kluwer’s OneSumX for regulatory reporting, along with OneSumX for Finance and OneSumX Asset and Liability Management (ALM). OneSumX ALM is a centralized data repository, combining contract data, balance sheet structures, counterparty and market data complements.
SAS and Wolters Kluwer will create an exchange layer to connect their respective software components.
[Image courtesy: SAS]