Singapore/Hong Kong, 22 November 2022 – Wolters Kluwer was awarded Best Solution – Regulatory Reporting in the 5th Regulation Asia Awards for Excellence 2022 at an in-person ceremony on 22 November 2022.
Wolters Kluwer was recognised for OneSumX, an integrated solution suite for finance, risk and regulatory reporting. The platform features a central data layer that leverages an enterprise-grade risk and finance data model; a calculation engine that integrates finance, risk and reporting calculations; a reporting layer which includes business analytics capabilities; and stress testing and reverse stress testing components.
OneSumX combines bank data under a common data model to ensure consistency, reconciliation and accuracy, and includes a regulatory update service that actively monitors for changing requirements in 30 countries. Besides connecting regulatory and reporting data elements and workflow processes, OneSumX provides business and finance calculations to support business decision-making, risk management and accounting processes.
An upgrade to allow regulatory capital and liquidity metrics to be projected and stress tested is a relatively new feature that distinguishes Wolters Kluwer from its competitors, said one judge on the Regulation Asia awards panel. “OneSumX has continued to evolve and stay relevant in an ever-changing industry, for example by expanding its coverage to areas such as ESG reporting. Wolters Kluwer is seen by banks and regulators alike as a trusted technology partner.”
More than 500 firms use OneSumX globally, including more than 200 in APAC. In addition to on-premise delivery, OneSumX is now also available as a SaaS offering on the cloud, introduced to lower total cost of ownership and enable greater speed, automation and scalability.
About the Regulation Asia Awards for Excellence 2022
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2022 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.