January 12, 2016 - Wolters Kluwer Financial Services has been named as the top provider of IFRS 9 and Regulatory Reporting solutions globally. That's according to the annual Chartis RiskTech100® report, a comprehensive study of the world's most significant risk and compliance technology companies. The company garnered the No. 6 spot overall of 100 ranked firms, marking the sixth consecutive year it has been rated among the top 10 firms.
The company won the top spot in the International Financial Reporting Standards (IFRS) 9 category for 2016- a newly added category to the RiskTech100 rankings this year, reflecting an increased public and regulatory push for improved accounting standards transparency and accountability. It also won top ranking in the Regulatory Reporting category, five years running that it has achieved that honor.
"Wolters Kluwer Financial Services' continued high rankings in the RiskTech100 further reinforces our leadership role in helping financial organizations around the world manage compliance risk with innovative approaches and technologies, such as our OneSumX® GFRC technology and services suite," said Raffi Festekjian, president and chief executive officer, Finance, Risk & Compliance Solutions, Wolters Kluwer Financial Services. "In addition, we are pleased to be recognized as the world's leading firm in both regulatory reporting as well as the IFRS 9 categories, areas that reflect the increasingly complex compliance challenges we are helping our customers address around the globe."
"As RiskTech100 indicates, Wolters Kluwer Financial Services continues to be a strong presence in the governance, finance, risk and compliance space," said Peyman Mestchian, managing partner at Chartis. "The flexibility of its OneSumX solutions suite and the ecosystem of complementary offerings around that solution has really resonated with its customers. As Wolters Kluwer Financial Services continues to drive the growth and adoption of its overall GFRC capabilities, it is helping its customers better position themselves for increased organizational profitability, efficiency and success."
The RiskTech100, in its tenth year of publication, is acknowledged globally as a comprehensive and prestigious study of risk technology vendors. The report utilizes assessment criteria in six equally weighted categories: functionality, core technology, organizational strength, customer satisfaction, market presence and innovation. For this year's report, Chartis collected more than 1,200 questionnaires from risk technology buyers and end-users, as well as more than 300 from risk technology vendors. Additionally, the firm's analysts conducted more than 100 briefings and demo sessions with select vendors to help determine and order the final list.
