FinancieelCompliance27 februari, 2019

Bank of China selects Wolters Kluwer’s OneSumX for Integrated Finance, Risk and Regulatory Reporting in Australia

Bank of China has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting to provide its regulatory reporting calculation and submission software for its operations in Australia.

OneSumX for Regulatory Reporting is set up to use a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service. This unique service maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries.

Mr. Felix Lin, Senior Finance Manager for Bank of China, Sydney Branch, commented, “Providing accurate and timely submission of our business data to regulators has always been our priority. After an extensive investigation into all the options available to us, it became apparent that Wolters Kluwer’s integrated approach met our future Finance, Risk and Regulatory Reporting aspirations. We have commenced working on the implementation quickly to meet the Australian Prudential Regulatory Authority’s Economic and Financial Statistical Reporting (EFS) Phase 1.”

“Wolters Kluwer is delighted to be working with Bank of China in its continuation of delivering excellence in external and internal reporting,” commented David Rule, Account Manager for Australia New Zealand in Wolters Kluwer’s Finance, Risk & Reporting (FRR) business. “The team at Bank of China has taken a future view of its reporting capabilities and recognized the recent regulatory reporting changes in Australia will allow the firm to execute finance and risk function enhancements.”

Regulation Asia also recently named Wolters Kluwer’s OneSumX for Regulatory Reporting the “Best Solution in Regulatory Reporting” in its Awards for Excellence, 2018. For the seventh time in eight year, Chartis Research has also awarded Wolters Kluwer its global Regulatory Reporting Category Award in Chartis RiskTech100® Rankings.

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.

Over Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is een wereldwijde leider op het gebied van informatievoorziening, softwareoplossingen en diensten voor professionals in de sectoren gezondheidszorg, fiscaal en accountancy, financiële en zakelijke compliance, juridisch en regelgeving en bedrijfsprestaties en ESG. Wij helpen onze klanten elke dag bij het nemen van kritische beslissingen door deskundige oplossingen te bieden die diepgaande domeinkennis combineren met technologie en diensten. Wolters Kluwer rapporteerde in 2024 een jaaromzet van €5,9 miljard. De groep bedient klanten in meer dan 180 landen, heeft vestigingen in meer dan 40 landen en heeft wereldwijd ongeveer 21.600 mensen in dienst. Het hoofdkantoor is gevestigd in Alphen aan den Rijn, Nederland.

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