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ABN AMRO chooses Wolters Kluwer and SAS to integrate finance, risk and reporting to meet regulatory compliance and improve business decisionsCARY, N.C., March 7, 2018 /PRNewswire/ -- ABN AMRO, the third largest bank in the Netherlands with more than 22,000 employees, has chosen Wolters Kluwer and SAS to provide a truly 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 better meet increasing requests internally as well as from regulatory bodies for ever more granular or different data within shorter time lines. Better management of high-quality data and improved risk analytics are key pillars to meet the increasing need for control, intelligence and insight in the bank's performance. At the same time, the bank aims to optimize its IT maintenance costs, promote automation and increase the efficiency and agility of the finance and risk processes. Together, Wolters Kluwer and SAS will provide the software component ABN AMRO needs to achieve these goals. "Following a thorough evaluation of a wide range of available solutions, ABN AMRO opted for a truly integrated approach that will complement the FRAAI objectives," commented Kees Visser, Finance Director of ABN AMRO. "The partnership of Wolters Kluwer, with its excellent reputation in regulatory reporting, ALM and finance, along with SAS and its strength in credit risk and stress testing, means we will have a powerful software solution to comply with current and future reporting requirements. We will be well positioned to ensure increased data granularity and transparent data lineage." As part of integrated application landscape, ABN AMRO will use SAS® risk and finance capabilities including:
To ensure seamless integration and efficient integration of information, SAS and Wolters Kluwer will create an exchange layer to connect their respective software components. Troy Haines, Senior Vice President and head of the risk management division at SAS, is committed to the success of the FRAAI project. "We recognize the importance of strategically combining our data management, visualization and finance and risk analytics capabilities with the finance and regulatory reporting strengths of Wolters Kluwer. Together, we are uniquely positioned to provide a truly integrated finance and risk application ecosystem that will help ABN AMRO effectively tackle the increasing regulations, promote automation, and become more agile and cost-efficient. A true win-win across the board." Clive Pedder, Executive Vice President and General Manager for Wolters Kluwer's Finance, Risk and Reporting business, adds: "ABN AMRO, like all major banks, is acutely aware of the trend for increased data granularity and transparent data lineage. Its FRAAI project seeks to ensure one central data storage, based on a truly integrated regulatory compliance and reporting solution. ABN AMRO rightly has exacting standards and, following a robust competitive tender process, I am delighted our team of experts has been chosen to work with the bank and our partners at SAS to provide ABN AMRO with a transformational software solution. Implementation of this platform will be crucial for ensuring the bank's finance, risk and reporting obligations are achieved." About Wolters Kluwer Governance, Risk & Compliance Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2017 annual revenues of €4.4 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. About SAS SAS is the leader in analytics. Through innovative software and services, SAS empowers and inspires customers around the world to transform data into intelligence. SAS gives you THE POWER TO KNOW®. SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2018 SAS Institute Inc. All rights reserved. View original content with multimedia:http://www.prnewswire.com/news-releases/abn-amro-chooses-wolters-kluwer-and-sas-to-integrate-finance-risk-and-reporting-to-meet-regulatory-compliance-and-improve-business-decisions-300609508.html SOURCE SAS |