Bendigo and Adelaide Bank Goes Live with Wolters Kluwer’s OneSumX for Regulatory Reporting

Bendigo and Adelaide Bank Goes Live with Wolters Kluwer’s OneSumX for Regulatory Reporting
07.01.2019 11:43 am

Bendigo and Adelaide Bank Goes Live with Wolters Kluwer’s OneSumX for Regulatory Reporting

Banking

Bendigo and Adelaide Bank has completed its implementation of Phase 1 of Modernized Economic and Financial Statistical Reporting (EFS) using Wolters Kluwer’s OneSumX for Regulatory Reporting. EFS is an ambitious regulatory change program, managed by the Australian Prudential Regulation Authority (APRA).

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 30 countries, helping to ensure the solution is current at all times. Bendigo and Adelaide Bank specifically use the Regulatory Reporting functionality for its Authorised Deposit-Taking Institution in Australia.

“During our program Wolters Kluwer’s experts have assisted the Bendigo and Adelaide Bank implementation team, keeping within budget and delivering on schedule,” said Patricia Zeitz, Divisional CFO, Consumer Banking, for Bendigo and Adelaide Bank. “We look forward to delivering the APRA reporting automation in full and keeping ahead of future regulatory changes with assistance from this expert team. Using a number of Wolters Kluwer solutions to benchmark our submissions to regulators, the bank will continue to assist regulators by producing their required information in the most unified and expedient way possible.”

David Rule, Australia and New Zealand Account Manager at Wolters Kluwer’s Finance, Risk & Reporting (FRR) business, added: “Working with the Bendigo and Adelaide Bank finance team has been a mutually rewarding experience for us all. Their professional and dedicated approach meant the first deliverables of the project were signed off and ready for production well ahead of time. Wolters Kluwer is now positioned to benchmark the bank’s reporting to our other clients across a wide range of regulators.”

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, Risk magazine awarded the company its coveted Regulatory Reporting System of The Year Award and Central Banking magazine recently 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.

Related News

Meniga appoints Arpit Kaushik as COO

Meniga welcomes Arpit Kaushik as Meniga’s new Chief Operating Officer. Based out of Meniga’s London office, Arpit will be responsible for engineering, professional services,... Read more »

TruNarrative provides cutting-edge compliance platform for FinTech money innovator Tally®

Financial crime and compliance software firm TruNarrative has been appointed by cutting-edge banking app Tally®, to enhance the customer onboarding and identity verification... Read more »

Standard Chartered Bank joined with SAP Ariba to bring financial supply chain solutions to the world’s largest digital business network

Standard Chartered Bank and SAP Ariba today announced a strategic collaboration to make the Bank’s... Read more »

Avaloq successfully onboards Banque Morval onto Intesa Sanpaolo’s BPaaS solution in just nine months

Intesa Sanpaolo Private Bank (Suisse) SA and Avaloq have successfully onboarded Banque Morval onto Avaloq's Business Process as a Service (BPaaS) solution in just nine months.... Read more »

Trustly appoints Louise Nylén as new CMO

Trustly, the leading online banking payments company, announces today the appointment of Louise Nylén as Chief Marketing Officer (CMO).

The CMO position is a newly... Read more »

Emirates NBD enhances data-driven decision making as first global bank to leverage SAP Financial Services Data Platform

Emirates NBD, a leading bank in the Middle East, has partnered with SAP, a market leader in enterprise software, to become the first bank globally to implement SAP Financial... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel