LONDON--(BUSINESS WIRE)--Wolters Kluwer’s Finance, Risk & Reporting business has won a major award from Risk magazine. Its OneSumX for Regulatory Reporting solution has been named Regulatory Reporting System of the Year, 2018, in the publication’s annual Technology Awards which celebrate excellence and innovation.
The awards, which are widely regarded to be among the most prestigious accolades for financial technology, were decided by an expert panel of judges, including Risk magazine’s editorial team.
Judges commented how OneSumX Regulatory Reporting is a “a well-differentiated solution [that provides] a comprehensive set of features matched to the needs of clients.” In their justification for the award the panel also noted how “data handling and management are strong [with] good coverage of global reporting requirements,” taking into account client testimonials.
OneSumX Regulatory Reporting uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 50 countries, helping to ensure the solution is current at all times.
“Wolters Kluwer is a global market leader in the provision of integrated regulatory compliance and reporting solutions, supporting regulated financial institutions in meeting their obligations to external regulators and their own boards of directors,” commented Claudio Salinardi, Executive Vice President and General Manager of Wolters Kluwer’s Finance, Risk & Reporting business. “Hotly contested awards such as this important accolade from Risk magazine provide independent verification of our leading position in the market. The integrated nature of our OneSumX suite of solutions, which comprises core finance, risk and regulatory reporting offerings, means our clients have access to cutting-edge technology, enabling them to integrate their finance, risk and reporting architecture. We will continue to work closely with clients globally to help them manage their increasingly demanding regulatory obligations.”
Risk magazine is published by Infopro Digital and recently celebrated 30 years of providing news and intelligence on the global financial markets.
In related news Chartis Research, also owned by Infopro Digital, last month named the company a Category Leader in its Current Expected Credit Loss (CECL) Technology Solutions report. Chartis uses in-depth research and a clear scoring system to determine which solutions in the marketplace can meet an organization’s needs. Chartis also named Wolters Kluwer as a Category Leader in its International Financial Reporting Standards (IFRS) 9 Technology Solutions: Market Update report.
Leading financial services firms continue to implement the company’s award winning OneSumX solution for Regulatory Reporting, Risk and Finance, including IFRS 9 and CECL systems. Major financial services providers from across the world that have recently announced their use of Wolters Kluwer solutions include ABN AMRO, SME Development Bank Malaysia Berhad, Bahrain Middle East Bank, China Everbright Bank, China Merchants Bank, LGT and Nordea.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2017 annual revenues of €4.4 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.