July 19, 2013

Compliance and risk management provider Wolters Kluwer Financial Services today announced it has acquired SVENSON - a regulatory reporting software suite for financial institutions, which is based in Austria. Its 15 employees will join Wolters Kluwer Financial Services.

The acquisition is designed to help banks and insurance companies in Austria meet national and international regulatory requirements, according to Wolters Kluwer. The SVENSON product suite complements the existing Wolters Kluwer Financial Services offering for regulatory reporting, and risk and finance management which supports financial organizations across the world, the company said.

Terms of the deal were not disclosed.

[Related: U.S. Banks Increasingly Pressured by Compliance Requirements]

ABOUT THE AUTHOR
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as ...