Wolters Kluwer’s Finance, Risk & Reporting business has won a major award from Central Banking magazine. Its OneSumX for Regulatory Reporting solution has been named Best Technology Solution For Regulatory Compliance, in the publication’s annual FinTech and RegTech Awards which celebrate excellence and innovation.

The awards were decided by an expert panel of judges, including Central Banking magazine’s editorial team. Central Banking is published by Infopro Digital and is a sister title to Risk magazine. It specializes in public policy and financial markets, with an emphasis on central banks and their relationship with international financial institutions. The magazine was founded in 1990 and has an impressive editorial board which includes Nobel prize winning economists and former governors of central banks in Asia, Europe and the Americas.

“Wolters Kluwer has become a leader in RegTech solutions… earning it the Central Banking FinTech & RegTech Global Award for Best Technology Solution For Regulatory Compliance,” the editors of Central Banking explained in their award justification. “Wolters Kluwer’s regulatory reporting tool compiles a firm’s data into a single source to ensure consistency, reconciliation and accuracy. The success of Wolters Kluwer’s products can be observed through its growing client base [including] its recent signing of a major deal with ABN AMRO to provide an integrated finance, risk and regulatory reporting software solution…. It aims to better meet requests from regulatory bodies for ever-more granular data within shorter timelines.”

“The volume and velocity of new regulatory requirements and changes continue to drive a persistent demand for our product capabilities and features. Increasingly, our customers are seeking integrated solutions spanning finance, risk and reporting functionality in order to manage escalating complexity,” said Claudio Salinardi, London-based Executive Vice President and General Manager of Wolters Kluwer’s Finance, Risk & Reporting business. “We expect this trend to continue and are committed to delivering an integrated set of capabilities deployed in a flexible environment, allowing rapid response to constant regulatory change. Awards such as this provide independent verification of our leading position in this space.”

Wolters Kluwer’s Finance, Risk & Reporting business is a global market leader in the provision of integrated regulatory compliance and reporting solutions, supporting regulated financial institutions in meeting their obligations to external regulators and their own boards of directors. It receives frequent independent recognition of its excellence and innovation. Notably, in July 2018, Riskmagazine awarded the firm its coveted Regulatory Reporting System of The Year Award and Chartis Research has also named the firm a Category Leader in both its IFRS 9 Technology Solutions Report and CECL Report. 

Leading financial services firms from across the world have implemented the company’s award winning OneSumX solution for integrated Regulatory Reporting, Risk and Finance. Major financial services providers that have recently announced their use of Wolters Kluwer solutions include ABN AMRO, SME Development Bank Malaysia Berhad, Bahrain Middle East Bank, China Everbright Bank, China Merchants Bank, LGT and Nordea.