Hong Kong’s livi bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting Solution

Hong Kong’s livi bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting Solution
16.09.2020 11:28 am

Hong Kong’s livi bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting Solution

RegTech , Compliance , Risk Management

Wolters Kluwer has been selected by livi bank for its award winning OneSumX for Regulatory Reporting solution to manage the bank’s regulatory reporting obligations. livi is a new virtual bank in Hong Kong and has recently launched its virtual banking app to Hong Kong customers. The bank is backed by Bank of China Hong Kong (Holdings), Jingdong Digits Technology and the Jardine Matheson Group.

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

“livi bank offers an easy, rewarding and lifestyle-driven banking experience, delivered through our simple and stylish mobile app. With the goal to foster fintech innovation, promote financial inclusion and enhance customer experiences, livi brings a unique, brand-new and different banking experience to Hong Kong,” said Chris Ng, Senior Manager, Regulatory Reporting of livi bank. “To help ensure we meet all important regulatory reporting obligations, we sought out the services of a company with regulatory reporting prowess and technological expertise. Wolters Kluwer, with its award winning integrated regulatory compliance and reporting solutions, was an attractive option.”

“We are delighted to be working with livi bank as it commences its operations to provide its innovative banking offering,” commented Rainer Fuchsluger, Managing Director of Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) business for APAC. “We look forward to working with the bank, and our growing number of virtual banking clients across the region, as they embark on their banking journey with our OneSumX solution.”

Wolters Kluwer FRR, which is part of Wolters Kluwer’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, celebrating a record year for award wins in 2019. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the third year running and Wolters Kluwer FRR is the #1 provider in both Regulatory Reporting and Liquidity Risk according to the RiskTech100, as compiled by Chartis Research.

Related News

Shield Joins IBM Cloud for Financial Services Ecosystem

Specialist RegTech provider... Read more »

Ideal Prediction Awarded ‘Best Surveillance Provider’ By FX Markets

Ideal Prediction (Ideal), the independent trading analysis and data science company for capital markets, has won the FX Markets award for ‘Best Surveillance... Read more »

Paragon Bank to Adopt TruNarrative RegTech Platform to Power Bounce-Back Loans Initiative

Paragon Bank has procured business onboarding and automated due diligence technology services from RegTech firm, TruNarrative. The decision... Read more »

SteelEye Wins Best RegTech Solution at the HFM European Technology Summit

SteelEye, the compliance technology and data analytics firm, has been recognised as the Best RegTech Solution by HFM Global, announced at yesterday’s... Read more »

Cappitech Awarded “Best Regulatory Reporting Solution” by HFM

Cappitech, a leading provider of regulatory reporting, best execution analysis and business intelligence solutions for the financial services industry, is... 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