One of Israel’s largest banks has selected Wolters Kluwer’s OneSumX solution for risk management, specifically using the software for managing its credit risk profile.
Bank Hapoalim will be using the software to calculate credit valuation, debt valuation and funding valuation adjustments. Wolters Kluwer’s solution essentially means Bank Hapoalim can more easily identify and estimate the degree of systemic concentration based on counterparty risk and credit exposure analysis and enables compliance with regulatory requirements.
Uri Yanir, senior vice president and head of Basel II/III implementation at Bank Hapoalim said the new software is now the bank’s main tool for calculating capital ratios.
Kris Van Bavel, managing director of EMEA, for Wolters Kluwer’s finance, risk and reporting business expressed his delight of working with the financial institution.
Back in July 2018, Bank Hapoalim was one of the investors in the $30m venture round raised by ThetaRay, the company using AI and big data to prevent financial crime.
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