Retail and wealth banking company Milleis Banque has selected Wolters Kluwer solution to build a truly integrated risk and reporting framework.

Wolters Kluwer will provide Milleis Banque its integrated regulatory compliance and reporting software.

As per the agreement, the bank will deploy centralised data repository OneSumX Asset and Liability Management (ALM). It combines contract data, balance sheet structures, counterparty and market data.

Milleis Banque will also use OneSumX Market Risk that provides all modern risk analytics and techniques.

The utilities include basic sensitivity and gap analysis, advanced Value at Risk (VaR) techniques as well as simultaneous dynamic simulation of credit and market risk.

Additionally, the use of OneSumX Credit Risk will offer single name and portfolio credit risk analysis through current and future exposures, expected and unexpected credit loss based on stress and credit value-at-risk analysis, and credit value adjustments.

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Milleis Banque will also implement OneSumX for Regulatory Reporting, which uses single data source to ensure consistency, reconciliation and accuracy.

Earlier known as Barclays French Retail Banking and Wealth Management business, Milleis Banque was acquired by AnaCap Financial Partners in 2017.

It was rebranded into its current form in May last year. Currently, it has more than 100,000 wealth management and retail clients.

Recently, Bendigo and Adelaide Bank also deployed Wolters Kluwer’s OneSumX for Regulatory Reporting to enhance operational efficiency.