FRSGlobal

English

17/10/2011

Acquisition Aligns China-Based Financial Reporting Software Provider with Wolters Kluwer Financial Services’ FRSGlobal Solutions, Marking Further Expansion Into Asia

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SHANGHAI, China - 17 October 2011: Wolters Kluwer Financial Services, a leading worldwide provider of comprehensive compliance, risk management and audit solutions for the financial services industry, today announced the acquisition of SASGAS, a provider of financial reporting software solutions to the foreign and domestic bank market in China. Wolters Kluwer Financial Services is acquiring SASGAS through its FRSGlobal business, which provides a unified regulatory reporting and risk management solution for financial organisations across the globe.

“SASGAS’ offerings and strong footprint in China build upon our continued commitment to help financial professionals effectively manage the challenges related to increased regulatory scrutiny and global growth,” said Brian Longe, CEO of Wolters Kluwer Financial & Compliance Services.

SASGAS’ solutions enable foreign banks with branches in China and domestic banks to address local financial regulatory requirements, including those outlined by China State Administration of Foreign Exchange (SAFE), China Banking Regulatory Commission (CBRC) and the People’s Bank of China (PBoC). The acquisition will enable the combined company to serve the growing number of foreign banks expanding into China meet the country’s specific regulatory requirements.

“The Chinese financial services market is growing rapidly, resulting in an increased demand for reporting and risk solutions to help financial organisations meet requirements of the country’s regulators,” said Steve Husk, CEO of FRSGlobal. “Together with SASGAS we will be able to provide this burgeoning market with intelligent and comprehensive solutions and services to help them address the complexities of a rapidly evolving regulatory environment.”

With the combination of the FRSGlobal and SASGAS businesses, Wolters Kluwer Financial Services is the leading risk and regulatory reporting provider to the foreign banking market in China, providing solutions for 64 foreign banks representing 56 percent of the market and including 21 of the top 50 banks.

SASGAS was one of the first independent software vendors to offer regulatory reporting solutions to foreign banks with branches in China and provides the following products to the market:

• Foreign Exchange Account Management System - a reporting solution for SAFE
• China Banking Regulatory Commission (CBRC) Report System - provides 1104 Supervisory reporting for foreign banks operating in China
• Anti-Money Laundering (AML) System - monitors transaction information, analyses metadata and generates AML reports for the PBoC
• Jinhong Management System - provides SAFE balance of payments reporting
• PBOC Reporting System - provides reporting capabilities to the PBoC
• Local Data Warehouse System (LDWS) - a data warehouse repository to support the reporting solutions

Wolters Kluwer Financial Services provides financial organisations solutions in four main areas: risk management; regulatory intelligence; audit, analytics and reporting; and transaction and origination management. Through its FRSGlobal solutions, Wolters Kluwer Financial Services helps financial organisations meet financial risk and regulatory reporting requirements. FRSGlobal provides fully automated regulatory reports for more than 40 countries, including China, Japan, Hong Kong, Singapore and various others in Asia. Last year, FRSGlobal became the first foreign solutions provider to go live with a regulatory reporting product in China. It currently covers more than 200 reports for the CBRC, PBoC and SAFE regulators.

“Wolters Kluwer Financial Services’ FRSGlobal business has a rich heritage in risk management and regulatory solutions,” said Kevin Gu, founder of SASGAS. “We are excited to pair the global strength and breadth of Wolters Kluwer Financial Services’ offerings with SASGAS’ local knowledge and tailored products in China, which will make us ideally placed to assist banks in the region with the existing and upcoming requirements.”

Additionally, the acquisition expands the presence of Wolters Kluwer. Wolters Kluwer has been doing business in China for 25 years through the tax, accounting, legal and health markets. Over the last five years, Wolters Kluwer has almost doubled its investment in China.

SASGAS was founded in 2002. The company has 20 employees and offices in Shanghai, Beijing, Guangzhou and Shenzhen, China.

Financial terms of the deal were not disclosed.

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Chinese

新闻发布

荷兰威科金融收购上海华雷科技
——全球经验和本地知识结合，助力银行业更好地达到金融监管合规要求

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（中国上海，2011年10月17日）: 全球领先的综合性监管合规与风险管理企业威科金融服务机构（Wolters Kluwer Financial Services）今天宣布通过旗下的FRSGlobal公司收购中国本地金融信息服务提供商——上海华雷信息科技有限公司（SASGAS）。

FRSGlobal为全40多个国家和地区提供解决方案，满足全球金融机构金融风险管理和监管报告需求。去年，FRSGlobal成为第一家在中国提供监管报表产品的外资供应商。这是FRSGlobal进入中国一年后收购的首家本地公司。

“华雷公司在中国市场的成功经验有助于我们向金融专业人士提供持续的专业服务，有助于他们对中国国内经营环境和监管环境的认识，并提高其风险管控能力和不同监管框架适应能力。” 威科金融服务首席执行官Brian Longe说。

华雷公司成立于2002年，其金融服务解决方案旨在帮助在中国的外资银行和分行以及国内银行符合当地的金融监管机构的要求，其中包括国家外汇管理局(SAFE)、中国银行业监督管理委员会(CBRC)以及中国人民银行(PBoC)等监管机构的合规及风险管理的要求。华雷目前的客户包括全球规模最大的银行和其他在华的外资金融机构。

“威科金融服务旗下的FRSGlobal公司在风险管理和监管解决方案方面拥有丰富的经验，”华雷公司创始人顾振华（Kevin Gu）表示。“我们很高兴能将威科金融服务的‘全球化’与 华雷公司在中国的本地知识和定制产品相结合，这将有助于我们能更好地帮助该地区的银行达到现有的和未来的监管要求。”

FRSGlobal的母公司威科金融服务在全球拥有共有超过15，000家金融客户，为它们提供风险分析和管理、监管信息、交易和发起管理解决方案以及政策和流程管理工具与解决方案。

“中国的金融服务市场正快速发展，这必然使金融机构需要更多的合规产品和风险管理解决方案以满足当地监管机构的要求”，FRSGlobal的首席执行官Steve Husk说。“此次收购华雷科技很好地体现了我们开拓全球市场的理论——借助强大的行业专长和内容取向，加强本土化服务。”

另外，此次收购进一步扩大了威科金融服务的母公司——威科集团在中国市场的规模。威科集团在中国运营已达25年，涉及税务、会计、法律法规以及医疗信息与医药解决方案。在过去的五年里，威科集团在中国的投资增长了两倍。

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