Wolters Kluwer Financial Services, a provider of comprehensiverisk management, compliance and audit solutions for the financialservices industry, announces the acquisition of FinArch, a providerof integrated finance, risk, and performance measurement solutionsthat enable financial institutions to manage, measure, and reportall financial activities.

 The acquisition strengthens Wolters Kluwer's globalrisk and compliance position and extends its capabilities intointegrated finance, risk, and performance management. In doing so,the company can provide financial institutions with better control,insight, and management of their financial data, and ultimately, aclearer view and enhanced management of their risk andperformance.

 Post financial crisis, institutions across the globehave recognized the need and value in the convergence of risk andfinance, requiring high-quality data and integrated datamanagement. Organizations also face added pressure to have a betterenterprise view of risk and financial management at a time when theregulatory and business environment is incredibly dynamic.Financial organizations need to integrate and control theirfinancial data to improve efficiency, and manage performance in thecontext of risk while meeting all regulatory obligations.

 FinArch's solution, Financial Studio, brings togetherthe tools financial institutions need to manage, measure and reportall financial activities, including: accounting, risk and capitalmanagement, management information, and compliance. With generalledger and sub-ledger capabilities, Financial Studio enablescustomers to meet International Accounting Standards (IAS) andInternational Financial Reporting Standards (IFRS) while alsoaddressing the requirements of Basel II and Basel III, RAROC, andother risk-related performance measurement ratios.

By utilizing Financial Studio's data architecture, this "singleversion of the truth" helps organizations manage the regulatoryenvironment while reducing the cost of compliance, ultimatelyenabling them to be more competitive.

"By better harnessing the power of their data across all assetclasses, financial organizations can more effectively manage riskand financial performance, and help ensure regulatory compliancewhile reducing costs and increasing operational effectiveness,"says Brian Longe, CEO of the Wolters Kluwer Financial &Compliance Services division. "Together with our risk andregulatory reporting solutions, we'll be able to offer ourcustomers more options and greater flexibility to meet the needsspecific to their organization and the changing marketplace."

"With a shared vision for providing knowledge-rich solutions tomanage the complexity around financial performance and riskmanagement, we will continue to build out our solutions, combiningglobal scale with local capabilities, expertise and service,ultimately helping more organizations make the right businessdecisions in today's evolving global environment," says Dirk DeBeule, managing director for FinArch.

The FinArch management team will join Wolters Kluwer FinancialServices.

Terms of the deal were not disclosed.