FRSGlobal

Hyde Park Savings Bank Selects Wolters Kluwer Financial Services’ ARC Logics

Bank Looks to Company and Solution to Help Bring Greater Control, Transparency and Efficiency to Risk Management Process

MINNEAPOLIS – Sept. 13, 2011 – Wolters Kluwer Financial Services announced today that Hyde Park Savings Bank of Hyde Park, Mass., has selected the company’s ARC Logics for Financial Services offering to proactively measure, monitor and manage risk across all of the bank’s business lines. According to Thomas Holbik, enterprise risk manager of Hyde Park Savings Bank, the financial institution chose to manage its operational risks through the ARC Logics solution as it transitions to a fully diversified community bank.

“ARC Logics provides us with the ability to view the complex operational risks associated with enhanced consumer and small business banking and commercial lending across our business more holistically through consistent risk assessments, dashboards and the automation of key risk indicators,” said Holbik. “That, in turn, enhances our management team’s ability to make real-time, risk-based decisions that benefit our customers and help us maintain a delicate balance of risk and opportunity that will continue to position our organization for rapid growth.”

ARC Logics helps financial organizations bring transparency, traceability and efficiency to managing compliance, operational and financial risks as well as to the audit function. The solutions modular approach enables financial services organizations like Hyde Park Savings Bank to fulfill their immediate risk management objectives in a targeted, cost-effective manner while allowing for expanded future usage of the same platform. The solution’s modules are Letter of Law and Industry Standards, Policies and Procedures, Risks and Controls, Financial Analytics, Program Management, and Audit. These can be implemented all at once or individually, and expanded as needed with changing business requirements and regulations.

“Today’s increasingly-complex regulatory and business environments often require financial organizations like Hyde Park Savings Bank to look outside for help in efficiently managing their constantly-evolving compliance, risk management and operational needs,” said Todd Cooper, vice president and general manager of Wolters Kluwer Financial Services’ Enterprise Risk Compliance business. “In doing so, organizations need to be sure the provider they choose to work with infuses industry-specific regulatory and risk management expertise into its enterprise risk management offering. Otherwise, they’re just purchasing technology, which on its own won’t help them successfully manage risk consistent with industry demands and expectations.”

For more information, please visit www.WoltersKluwerFS.com/ArcLogics.