Wolters Kluwer Financial Services has acquired FinArch, a provider of financial measurement services that address the Basel III accounting standard among other things.
Terms of the deal were not disclosed.
FinArch’s Financial Studio product—which is used to consolidate information and analytics needed to manage, measure and report financial activities—was acquired because it complemented WKFS’s risk and regulatory reporting services, according to a WKFS press release.
The acquisition will allow financial organizations that the two companies serve to more effectively manage risk and financial performance as well as help with regulatory compliance in cost-effective ways, Brian Longe, CEO of the Wolters Kluwer Financial and Compliance Services division, said in the release.
