Wolters Kluwer FRR Triumphs in HKMA and Waters Technology Awards for Excellence and Innovation

SINGAPORE--(BUSINESS WIRE)--Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) has won three major awards for its RegTech, risk management and regulatory reporting solutions in the Asia Pacific (APAC) region. Waters Technology has named the company’s OneSumX for FRR the Best Middle Office Platform in its 2021 Asia Awards and the Hong Kong Monetary Authority (HKMA) has awarded the company two accolades in its Global RegTech Challenge. The highly competitive award series are both free to enter industry competitions, with both expert panels judging winners based on evidence of excellence and innovation.

Waters Technology is a 37-year-old financial technology industry journal, published by Infopro Digital, owners of Risk.net and Chartis Research. Its Best Middle Office Platform award reflects the strong market uptake of OneSumX for FRR which is Wolters Kluwer’s best-in-class integrated regulatory compliance and reporting solution suite that establishes a single source of data for finance, risk and regulatory reporting that is enriched with value-added content from in-house experts.

HKMA, meanwhile, received more than 85 submissions from 15 jurisdictions in its Global RegTech Challenge with Wolters Kluwer FRR winning two of the four titles on offer in the award program. The competition was designed by the regulator “to raise the Hong Kong banking industry’s awareness of the potential of RegTech adoption.” Wolters Kluwer FRR won the Governance, Risk and Compliance (GRC) category, “demonstrating to the judging panel how its existing technology can be used to optimize regulatory compliance of all internal and external obligations”. The company also won the Risk Management category, evidencing “how its multi-award winning risk technology can be used to enhance the delivery of stress testing requirements driven by needs across different risk, compliance and business unit teams.”

Rainer Fuchsluger, Managing Director of Wolters Kluwer FRR APAC, commented: “These highly prestigious awards reflect the strong market adoption of our industry leading OneSumX for FRR suite of solutions. We continue to innovate across the full RegTech ecosystem, providing our all important clients with access to a truly integrated approach to finance, risk and regulatory reporting. I would like to thank all who contributed to the solutions and pitched for these awards, and indeed to our everyday success in helping ensure our banking clients continue to meet their regulatory compliance obligations. I’d also like to thank the team at HKMA for recognizing our dedication to innovation, as well as the editorial team at Waters Technology for independently acknowledging the middle office capabilities of OneSumX for FRR.”

Wolters Kluwer FRR, which is part of Wolters Kluwer’s GRC division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.

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 (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 2020 annual revenues of €4.6 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 19,200 people worldwide.