LONDON–(BUSINESS WIRE)–Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has won a
major award from Risk magazine. For the second year running its OneSumX
for Regulatory Reporting solution has been named Regulatory
Reporting System of the Year 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 “the regulatory reporting module of Wolters
Kluwer’s OneSumX integrated suite of finance, risk and reporting
solutions uses a single source of data to achieve consistency,
reconciliation and accuracy of output. The solution currently provides
comprehensive cover for 27 jurisdictions, with the company’s experts
monitoring and analyzing regulatory changes in all jurisdictions to
ensure ongoing compliance through its Regulatory Update Service.” Risk’s
judging panel also noted how “to enhance the flexibility and ease of use
of OneSumX, Wolters Kluwer continues to introduce improved
functionalities… developing its unified data model for finance, risk and
regulatory reporting to facilitate transparency through comprehensive
data lineage.”
“Global and local regulators are demanding ever-greater integration
across business processes, more invasive and broader scope in management
and reporting, and faster reaction to change with regulation. Wolters
Kluwer offers integrated regulatory compliance and reporting solutions
for managing clients’ more complex finance, risk and regulatory
reporting obligations,” notes Claudio Salinardi, Executive Vice
President and General Manager of Wolters Kluwer FRR. “The required
regulatory information cuts across different functions and departments
and has to be consistent to meet this increased scrutiny. Wolters Kluwer
provides the world’s banks with the toolkit to tackle this. We thank Risk
magazine for once again acknowledging our leading capabilities in
the field.”
Wolters Kluwer FRR, which is part of the company’s Governance, Risk &
Compliance 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.
Wolters Kluwer FRR receives frequent independent recognition of its
excellence and innovation. In mid-2018, Central
Banking magazine named OneSumX for Regulatory Reporting its Best
Technology Solution For Regulatory Compliance. Wolters Kluwer FRR is
also this year’s Category
Winner for Regulatory Reporting in the annual RiskTech100® report.
This comprehensive study of the world’s leading risk and compliance
technology companies is compiled by Chartis Research. Notably, this is
the seventh time in eight years that Wolters Kluwer FRR has achieved
this honor. Chartis Research has also named Wolters Kluwer FRR a
Category Leader in both its IFRS
9 Technology Solutions Report and CECL
Report.
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, stay competitive 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 2018 annual revenues of €4.3 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.
Contacts
Paul Lyon
Director of Global Corporate Communications, Banking &
Regulatory Compliance
Governance, Risk & Compliance
Wolters
Kluwer
Mobile +44 77 6539 1824
[email protected]
