Wolters Kluwer Financial Services now provides compliance and risk management solutions specifically designed for Indiaâs financial services market. Through its regulatory expertise and technology offerings, the company helps financial professionals comply with industry regulations, including those enforced by Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA) and Financial Intelligence Unit â India (FIU). Additionally, the company helps its customers understand implications of global regulations on the Indian financial services industry.
Wolters Kluwer Financial Services supports Indiaâs banks and other financial organizations in the following areas:
Regulatory Intelligence â Wolters Kluwer Financial Services provides deep in-house domain expertise through its regulatory, risk and compliance experts who monitor current and pending regulatory legislation. By offering timely and relevant regulatory information and analysis, the company helps financial organizations mitigate risk and remain compliant with changing laws and regulations.
Financial Risk Management â Through its FRSGlobal solutions, Wolters Kluwer Financial Services helps Indiaâs banks meet local financial risk and regulatory reporting requirements, as well as those mandated by foreign regulators. FRSGlobalâs fully automated, integrated risk management and regulatory reporting solution utilizes a common data source platform with coverage in more than 40 countries. This is a key benefit to Indian banks, especially those that conduct business globally.
Financial Crime Control â Wolters Kluwer Financial Servicesâ financial crime control solutions help financial organizations combat and detect the growing threat of financial fraud. The company offers solutions addressing numerous types of fraud, including account takeover, insider dealing, money laundering, and internal and external fraud.
Enterprise Risk Management â Wolters Kluwer Financial Services helps financial organizations measure, monitor and manage risk exposure across their entire enterprise. Using a holistic approach, Wolters Kluwer Financial Services helps bring transparency, control and efficiency to managing compliance and operational risks, as well as to the audit function by incorporating TeamMate, the worldâs most widely-used audit management system.
"As Indiaâs financial regulatory framework continues to evolve, it is becoming more challenging for financial services organizations to manage risk and compliance,â said Brian Longe, CEO, Wolters Kluwer Financial & Compliance Services. âBy expanding our offerings to India, we can help them develop, implement and maintain effective and comprehensive programs with compliance and risk management solutions designed specifically for India. Additionally, we provide access to our global compliance expertiseâa key benefit in assessing the impact of regulations both in India and abroad.â
Wolters Kluwer Financial Services has hired key financial experts to help leads its business expansion in India, including Prabhat Gupta, head regulatory specialist; Abhyuday Singh, market development manager; Dipten Chakravorty, regulatory content specialist; and Om Prakash, financial crime control specialist.