WOLTERS KLUWER : Housing and Development Bank Chooses Wolters Kluwer Financial Services for Multiple Solutions Covering Risk, Regulatory Reporting and Operational Risk

Housing and Development Bank (HDB), a major Egyptian bank that is approximately

60% state owned, has selected Wolters Kluwer Financial Services to provide its risk, regulatory reporting and operational risk software solutions.

Wolters Kluwer Financial Services won the Enterprise Risk Management tender issued by HDB, along with its local Egyptian partner, Winter Partners Egypt (WPE). The implementation of the OneSumX solution covering all three areas will be undertaken by both partners.

OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance, helping to increase organizational profitability, efficiency and growth. HDB will specifically use OneSumX for risk

management in the following areas - asset liability management (ALM), liquidity, market risk and credit risk.

The ALM solution to be deployed at HDB is based on Wolters Kluwer Financial Services' integrated data architecture, providing an enterprise-wide risk solution. The solution enables balance sheet modeling, risk measurement, risk management and regulatory compliance. HDB will also use the OneSumX Liquidity Risk Management solution, which combines a risk management/stress testing engine and a regulatory reporting platform, enabling firms to manage and monitor liquidity risk. The OneSumX Credit Risk solution, meanwhile, provides single name and portfolio credit risk analysis, while the Market Risk component provides an integrated view of profit & loss and balance sheet, both from a risk and a business unit perspective.

In addition, HDB will use OneSumX Regulatory Reporting, which uses a single source of data to help ensure consistency, reconciliation and accuracy. The solution enables firms to address statutory, prudential, transactional and statistical requirements on a local scale.

The OneSumX GRC for Operational Risk will enable HDB to meet and adapt to internal operational risk practices by automating and simplifying the process of collecting, storing, analyzing, tracking and reporting on information relevant to operational losses, risk and control assessments.

'As a leading bank keen to demonstrate our commitment to upholding the highest standards in risk, regulatory reporting and operational risk, we needed a suite of solutions that matched our exacting requirements,' said Mr. Fathy El Sebaei, managing director & CEO of HDB. 'Wolters Kluwer Financial Services, through its OneSumX suite, working together with WPE, was an appealing choice for us due to its strong reputation and track record in delivering superior software solutions. Our shareholders and clients demand the highest standards and so it was vital to ensure we have the best systems in place to manage risk, regulatory reporting and operational risk.'

'This triple win is a testament to the strong business we have built in the Europe, Middle East & Africa region,' commented Kris Van Bavel, vice president, EMEA Sales, at Wolters Kluwer Financial Services.

'Banks need vendors who understand their entire business and are able to offer suitable solutions to manage increasingly complex requirements. We look forward to working with HDB on the implementation.'

HDB has more than 40 years of market expertise and its contribution to the local economy is considerable, particularly in the housing sector with medium to low-income projects. Its shares are quoted on the EGX, the Egyptian Exchange.

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, AuthenticWeb™, Bankers Systems®, Capital Changes, CASH Suite™, GainsKeeper®, NILS®, OneSumX®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2014 annual revenues of €3.7 billion, employs 19,000 employees worldwide, and maintains operations in over 170 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

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