Wolters Kluwer Financial Services’ decision to abandon the brand names of FRSGlobal, which it acquired in September 2010, and FinArch, which it acquired in July 2012, marks a major step forward in the company’s work to integrate the acquisitions’ products to form a combined offering driven by a single business oriented data architecture.
The product integration initially covers FRSGlobal’s Oracle and SQL server-based RegPro regulatory reporting and RiskPro financial risk and profitability management solutions – although the names are no longer in use – and FinArch’s SQL server-based Financial Studio finance, risk and performance measurement solution. The aim is to integrate these products on a single data platform – Wolters Kluwer noted the integrity of FinArch’s data foundation at the time of the acquisition – and offer them as database agnostic solutions under the Wolters Kluwer Financial Services brand.
With this integration in place, the company’s ongoing product roadmap suggests the inclusion of some Wolters Kluwer Financial Services branded compliance, risk management and audit solutions on the platform. These are likely to include the ARC Logics operational risk and finance solutions, as well as extensions of the acquired products. The ultimate aim is to provide an integrated portfolio with more options and the flexibility to meet the needs of individual organisations. As Wolters Kluwer Financial Services moves the integration forward, the products will be renamed under the company brand.
Reinforcing the motivation behind Wolters Kluwer Financial Services’ acquisition strategy, CEO of finance, risk and compliance, Raffi Festekjian, says: “Having the FRSGlobal and FinArch solutions go to market under our company brand of Wolters Kluwer Financial Services illustrates how we have come together to become a single, cohesive organisation that provides a comprehensive set of offerings to meet the specific needs of our customers around the world.”