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Risk Management Industry News for FCA Regulated Businesses

Klarna, Xactium's newest Financial Services Customer

Posted by Chris Bell on Thu, Oct 30, 2014 in Risk Management

Xactium enters new Financial Services vertical with newest client

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Xactium Ltd, the enterprise risk management company, today announces that Klarna, the leading European online payment solution provider, has adopted Xactium, the cloud-based risk management solution to future proof it’s risk management operations. This new client expands the use of Xactium into a new vertical within the Financial Services sector.

Jonas Björk, Director of Risk Control at Klarna said of the requirements for a new Risk Management system; “Klarna is a regulated financial company but also a fast growing business with ever changing and increasing demands on risk management and control. To continuously deliver the highest standards of risk management, the processes for this must at the same time be both robust and easily adaptable”.

Previously mainly using time consuming and static tools to document risks and controls, Jonas stated “due to Klarna’s continued growth, risk control and management processes have to evolve constantly and a major objective was to make sure any new solution was user friendly and scalable to match Klarna’s growing requirements. The ease-of-use and flexibility of the Xactium solution plus the fact that Xactium is cloud-based meant it was a great fit for Klarna’s requirements and would minimise the usage of internal IT resources”.

Andy Evans, MD at Xactium is pleased to welcome Klarna as a new client. “We’re really pleased to have Klarna on-board as a new customer on a global level. It again highlights the flexibility of Xactium and how easily the solution can be customised to meet the requirements of any organisation operating in a regulated industry.”

About Xactium

Xactium is a cloud based GRC software provider that helps Risk Managers to transform the way that Financial services organisations evaluate and manage their enterprise risk. The value of the risk process and its profile is raised through the use of risk intelligence that improves efficiency and creates insights that influence decisions across the business.

As the central risk platform used by the FCA to supervise the market, it has also been adopted by a wide range of financial services organisations from across the industry. Companies such as Direct Line Group, JLT, MS Amlin and Argo Group.

Xactium is the world's first enterprise risk-intelligent system, with the revolutionary use of embedded AI (Artificial Intelligence), 3D visualisation and automation that dramatically improves efficiency and creates innovative analytics.  Reporting is made easy and timely, and predictive insights enable senior managers to prioritise resources.

Xactium is also built for managing change and is probably the most flexible and configurable enterprise risk management system available today. This adaptability  ensures that our customers stay up to date and able to respond to both business and regulatory change, without the need for costly bespoke programming.

Overall, Xactium releases more time and resource for the risk team to help promote best practice and demonstrate the value of risk across the business through actionable insight.

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