Sri Lanka’s Providence and US’ Wolters Kluwer Financial Services bring IFRS to local banks

Wednesday, 25 March 2015 00:46 - - {{hitsCtrl.values.hits}}

Providence Directors Raj Omprasadhan, Dr. Vaz Gnanam and Wolters Kluwer Financial Services Asia-Pacific Managing Director Chris Puype Providence, a leading provider of IT and technology related services, along with Wolters Kluwer Financial Services, a worldwide provider of compliance, risk management and audit solutions, has brought the latest and most up-to -date solution for IFRS – OneSumX – to Sri Lanka. OneSumX is being used by more than 180 banks worldwide, ensuring they are compliant with IFRS 7 and 9. A team of specialists who are well-versed in the latest guidelines set out by the international financial reporting standards (IFRS) are responsible for implementing the solution globally. Providence is a leading service provider of software solutions expertise with close to a decade of experience in integrated systems. In house certified specialists in the implementation of IFRS for banks allows the team at Providence to deliver the latest financial reporting standards to local banks and support them in the process. Wolters Kluwer Financial Services helps organisations around the world manage risk and compliance, and grow safely and profitably by providing software, expertise and services to help them make critical business decisions. Only Wolters Kluwer Financial Services can deliver powerful solutions that help financial services organisations address risk and compliance challenges at all levels of their organisation. Powered by more than 400 regulatory experts and using deep industry intelligence gained from working with the world’s top banks, OneSumX has been exclusively designed for the financial services industry. OneSumX is a suite of solutions that connects governance, finance, risk, and compliance, allowing for the multidisciplinary management of complex risks and issues. With OneSumX, governance and compliance become critical inputs into strategic decision-making through their relation to financial and performance metrics.