News & Events
Wolters Kluwer Financial Services Helps Financial Institutions Proactively Address Enterprise-Level Risk with New Solution
Wiz Compass Platform Allows Institutions to Measure, Monitor and Manage Regulatory and Operational Concerns Across Their Business
MINNEAPOLIS – Oct. 21, 2009 – Wolters Kluwer Financial Services announced today it has launched a new solution to help financial institutions more effectively manage compliance and operational risk at the enterprise level. The Wiz Compass solution is built upon the proven technology of CCH Sword, a Wolters Kluwer company. It combines Wolters Kluwer Financial Services’ strong regulatory compliance expertise with CCH Sword’s strength in operational risk management for transparency and control over managing enterprise risk.
“While financial institutions have reacted to and met legislative changes in recent years, they haven’t necessarily anticipated and controlled risk holistically,” said Christina Nejezchleb Speh, director of New Markets and Compliance Strategy for Wolters Kluwer Financial Services. “It was that inability to fully see and understand the breadth and depth of the risk their firms were taking that is at the heart of the current financial crisis.”
Wiz Compass is a unique solution which provides institutions with the ability to proactively measure, monitor and manage regulatory compliance and operational risk across all business lines and legal entities. The solution is also unique in the breadth and depth of regulatory requirements it helps institutions address, including lending, deposit, privacy, and anti-money laundering regulations, as well as Basel II and Sarbanes Oxley.
Wolters Kluwer Financial Services’ compliance professionals, who include former regulators, compliance officers, lawyers and data management experts, will be deployed on-site at financial institutions as part of the Wiz Compass implementation process. Using their years of bank regulatory experience and knowledge, the company’s consultants will help institutions tailor Wiz Compass to help meet their specific compliance and operational risk management needs. They will also assist in the seamless integration of the solution with institutions’ risk processes and systems.
For more information on Wiz Compass, please visit www.pciwiz.com/products/wizcompass.
About Wolters Kluwer Financial Services
Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.
