MINNEAPOLIS--(BUSINESS WIRE)--Wolters Kluwer Financial Services announced today that Johnson Bank, headquartered in Racine, Wis., has implemented the company’s OneSumX® Asset Liability Management solution, empowered by Empyrean. The ALM solution is giving the bank an intuitive, easy-to-use yet sophisticated ALM analytical tool that provides the essential foundation for efficient, effective and confident risk analysis and enhanced funds transfer pricing, or FTP, functionality. With branches in both Wisconsin and Arizona, Johnson Bank is already actively using the ALM solution’s FTP functionality.
According to David Adam, senior vice president of finance for Johnson Bank, the bank chose to replace a homegrown FTP system in favor of Wolters Kluwer Financial Services’ ALM solution, gaining an integrated tool that relies on the same core data for both ALM and FTP. Wolters Kluwer tailored the solution, including advanced FTP functionality, to meet the specific needs of Johnson Bank.
“Wolters Kluwer Financial Services’ OneSumX FTP and ALM functionality and integration will create operational efficiencies over multiple systems,” said Adam. “Empyrean is led by former bankers who wrote the code and collaborated with us for an end-user vision that resulted in a tight product that is functional without being overwhelming. Combined with Wolters Kluwer Financial Services’ deep industry expertise and financial services focus, the alliance between the two creates an end-to-end solution for managing ALM that was best suited to our needs.”
The ALM solution is part of the OneSumX solution suite, a complementary and comprehensive ecosystem of governance, finance, risk and compliance solutions and services that allows financial organizations to address a single risk or business issue, but in the context of a much larger and more holistic way. An organization’s finance, risk and compliance areas can work together with a common goal of helping maintain profitability and find additional ways to safely grow the business.
“Our solution was specifically designed by risk management practitioners and provides sufficient daily granularity for accurate ALM and FTP analysis using one platform,” said Chris Maclin, vice president, Finance, Risk & Reporting for Wolters Kluwer Financial Services. “Dedicated to user productivity and efficiency, our OneSumX ALM solution provides the flexibility to model the unique characteristics of individual institutions and is one of the most intuitive modeling systems available in the market.”
For more information on Wolters Kluwer Financial Services ALM solution, please visit www.WoltersKluwerFS.com/Empyrean.
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®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2013 annual revenues of €3.6 billion ($4.7 billion), employs 19,000 employees worldwide, and maintains operations in over 40 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.
Empyrean Strategic Partners brings over 25-plus years of experience in developing financial risk management software to the marketplace. A pioneer in leveraging stochastic simulation capabilities to measure and manage interest rate risk, Empyrean's enterprise risk management simulation tool allows financial institutions to accurately and efficiently model their balance sheets for income and economic value sensitivity. To provide this requires computation speed and efficiency which has been an obsession, for without it stochastic analysis becomes impractical. Performance comes primarily from an acute understanding of all of the elements of a simulation and how they can be architected for maximum throughput. Empyrean is the culmination of those years of experience.
About Johnson Bank
Johnson Bank is a member of Johnson Financial Group, a premier financial services company offering comprehensive financial solutions in the areas of banking, wealth, and insurance. The $4.2 billion financial services company operates in Wisconsin and Arizona. Principal owners of Johnson Financial Group are members of the Samuel C. Johnson family. Helen Johnson-Leipold is chairman of Johnson Financial Group and chairman, chief executive officer and chairman of the board of Johnson Outdoors Inc. in Racine, Wisconsin. For more information visit www.johnsonbank.com and www.johnsonins.com