Business Named Category Leader in Operational Risk, IT Risk Management, and eGRC Capabilities
MINNEAPOLIS--(BUSINESS WIRE)--Wolters Kluwer’s Compliance Solutions business has earned three “Category Leader” quadrant recognitions in the Chartis Research Enterprise GRC Solutions 2019 Market Update & Vendor Landscape report. The quadrants in which Wolters Kluwer Compliance Solutions demonstrates superior capabilities include Enterprise Governance, Risk & Compliance; IT Risk Management; and Operational Risk & Conduct Risk.
The Compliance Solutions business also placed in Chartis’ “Best of Breed” quadrant for its Compliance Program Management capabilities which help financial services customers manage Third-Party Risk.
“These recognitions by Chartis Research are a tremendous accomplishment by our team and demonstrate the considerable benefits that our Compliance Program Management expertise and product functionality can bring to customers, whether in replacing manual with automated processes, simplifying workflows, reducing costs, or enhancing an enterprise’s overall compliance program,” notes Steven Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions.
The Chartis report provides an updated view of the market and vendor landscape for enterprise governance, risk and compliance (eGRC) solutions, along with a brief summary of key market trends.
“The indirect but pressing influence of regulation, combined with more concrete market governance standards, has continued to drive demand for GRC solutions,” according to the Chartis report. “As financial institutions become accustomed to the insight and efficiency enabled by GRC analytics, significant demand and investment in these tools across all the GRC sub-segments will become the ‘new normal.’”
The three eGRC Report Category Leader wins, along with a separate Chartis RiskTech100 Honorable Mention distinction for Compliance Solutions’ CPM Regulatory Intelligence capabilities, brings to 30 the total number of industry awards garnered by the Compliance Solutions business in 2019.
As recently announced, Wolters Kluwer was ranked #8 overall in Chartis Research’s latest RiskTech100® report, a comprehensive study of the world’s leading risk and compliance technology companies, achieving a six-place rise from last year’s rankings that represents one of the largest jumps in the report.
Compliance Solutions, part of Wolters Kluwer’s Governance, Risk & Compliance division, is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business helps these financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflows, manage risk and other regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2018 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 18,600 people worldwide.