Nippon Wealth Opts for Wolters Kluwer Financial Services as it Establishes Operations in Hong Kong

Nippon Wealth Opts for Wolters Kluwer Financial Services as it Establishes Operations in Hong Kong
27.07.2015 01:00 am

Nippon Wealth Opts for Wolters Kluwer Financial Services as it Establishes Operations in Hong Kong

Risk Management

Wolters Kluwer Financial Services has signed Nippon Wealth Limited, a Restricted License Bank (NWB) as a user of OneSumX. The restricted license bank, based in Hong Kong and focused on Asia and Japan, will specifically use the solution for anti-money laundering (AML) and regulatory reporting, as it establishes its operations.

OneSumX is a suite of solutions that connects governance, finance, risk, and compliance, allowing for the multidisciplinary management of complex risks and issues. The OneSumX AML solution, developed to provide firms with comprehensive real-time monitoring of risks, presents real threats as they arise and provides firms with the ability to address those risks in the most efficient manner. The OneSumX Regulatory Reporting solution, meanwhile, uses a single source of data to help ensure consistency, reconciliation and accuracy.

“We established NWB in August 2013 with a mission to provide clients with comprehensive wealth management services. Notably, we recently acquired approval from the Hong Kong Monetary Authority to establish a restricted license bank. As we establish operations and as part of our commitment to excellence, we have to ensure the highest standards in the fields of AML and regulatory reporting. Accordingly, we chose a technology provider which is vastly experienced in providing expertise in these areas – Wolters Kluwer Financial Services,” said Mr. Ryutaro Uehara, Chief Technology Officer at NWB.

Following the approval of NWB’s restricted banking license application in April 2015, the firm plans to acquire Type 1 and Type 4 licenses from the Securities and Futures Commission. Having commenced business in May 2015, NWB used the Wolters Kluwer Financial Services OneSumX solution for regulatory reporting and AML oversight.

“Our Asia Pacific business is witnessing impressive growth, thanks to our expertise and breadth of reach in the region. We are, of course, delighted to be working with NWB at this important point in its history,” commented Mr. Chris Puype, managing director for Asia Pacific at Wolters Kluwer Financial Services.

Related News

Colt enables any-to-any global connectivity by expanding Ethernet VPN service

Colt Technology Services has today announced that its award-winning Ethernet VPN service is now offering any-to-any connectivity globally.

Read more »

NICE Actimize to Acquire Guardian Analytics, Expanding AI Cloud Solutions for Financial Crime Risk Management Across All Market Segments

Financial services organizations of all sizes must remain one step ahead of financial crime. To enable this NICE Actimize (Nasdaq: NICE)  a leader in Autonomous Financial Crime... Read more »

LexisNexis Risk Solutions Positioned as a Leader in Risk-Based Authentication Report

LexisNexis® Risk Solutions is honoured to announce it is named as a... Read more »

Wolters Kluwer Updates OneSumX for Regulatory Reporting and Signs ING in China

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has released an update for its OneSumX for Regulatory Reporting solution to allow clients to meet... Read more »

iPaytotal launches complete banking and payment solutions for high risk businesses

iPayTotal is very proud to introduce its Tier 3 Package to all clients, including but not limited to Company Registration, Registered/Virtual Office Address, Global IBAN/SWIFT... Read more »

West African Development Bank (BOAD) selects Wolters Kluwer’s OneSumX Software to manage risk

West African Development Bank (BOAD) has selected Wolters Kluwer’s OneSumX... 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