About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Bank Hapoalim Selects Wolters Kluwer’s OneSumX Software for Measuring Counterparty Credit Risk

Subscribe to our newsletter

Leading Israeli institution Bank Hapoalim has signed up with Wolters Kluwer to manage its credit risk profile using the firm’s OneSumX solution for risk management. The bank will utilise the software for measuring counterparty credit risk as per Basel III’s Standardised approach for measuring counterparty credit risk exposures (SA-CCR), which first came into force January 2017.

The revised rule is designed to calculate the exposure at default of derivatives, meaning that banks need to carefully consider how to integrate the standard into their overall regulatory approach. The Wolters Kluwer OneSumX solution calculates credit valuation adjustment (CVA), debt valuation adjustment (DVA) and funding valuation adjustment (FVA), enabling exploration of the correlation between credit, market and behavioral risk in an integrated approach. The solution also identifies and estimates the degree of systemic concentration based on counterparty risk and credit exposure analysis and enables compliance with regulatory requirements such as Basel II/III.

“Bank Hapoalim is now successfully using a wide variety of features available in Wolters Kluwer’s OneSumX Credit Risk solution” confirms Uri Yanir, Senior Vice President and Head of Basel II/III Implementation at Bank Hapoalim. “The software is now our main tool for calculating capital ratios.”

In July of this year, Wolters Kluwer launched a software-as-a-service (SaaS) version of its regulatory reporting solution, marking the first time that the company’s OneSumX regulatory software has been made available on the cloud. At the same time, the firm unveiled a substantial upgrade to its OneSumX Regulatory Engine, integrating it with an enhanced data management layer to deliver full data lineage as well as integration with Wolters Kluwer’s OneSumX for Finance and OneSumX for Risk solutions.

Bank Hapoalim is the latest bank to select OneSumX this year, following in the footsteps of Malaysia’s SME Bank and China Merchants Bank in July, US-based Investors Bank in March and Bank of China in February.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Embracing cloud in your firm’s regulatory response

Regulatory compliance is a key function for financial institutions. It is also a huge burden in terms of time, data management, systems resources, manual intervention, and reporting. As financial firms progress digital transformation programmes, is it time to move regulatory reporting to the cloud with a view to improved efficiency, reduced costs and better business...

BLOG

Firms Turning to Voice Transcription to Address Regulatory Scrutiny

Demand for voice transcription services from surveillance professionals at financial institutions is at record highs, according to analysis from compliance data and technology specialist SteelEye. Firms are seeking voice-to-text solutions for calls on fixed-line, mobile, MS Teams, Zoom, WhatsApp, and other communications mechanisms as part of to their surveillance programmes. SteelEye analyzed all Requests for...

EVENT

A-Team Innovation Briefing: Innovation in Cloud

This Innovation Briefing will explore approaches to data infrastructure transformation, technologies required and how to make sure processes are optimised to support real time data management. Hear from leading practitioners and innovative technology solution providers who will share insight into how to set up and leverage your data infrastructure to provide user access to consistent data and analytics, and companies the ability to monetise their data.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...