Wolters Kluwer Wins Regulatory Reporting Category Award in Chartis RiskTech100® Rankings
- Regulatory Standards
- 15.11.2018 10:55 am
Wolters Kluwer is 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 has achieved this honor.
OneSumX for Regulatory Reporting, offered by Wolters Kluwer’s Finance, Risk & Reporting (FRR) business, 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.
Other significant Wolters Kluwer achievements in the report include ranking #2 out of the Top 25 providers for Customer Satisfaction and achieving a Top 10 overall position in the RiskTech100® for Market Presence.
Wolters Kluwer also ranked in the top five overall in the Functionality category. This score reflects the wide range of integrated regulatory compliance and reporting solutions offered by its FRR business, along with the regulatory change management and operational risk offerings from Wolters Kluwer’s Compliance Program Management (CPM) business, in addition to wider Wolters Kluwer product offerings in the compliance field.
According to Chartis, one aspect of functionality in the rankings refers to “the level of sophistication and detailed features in the software product. Aspects assessed include: innovative functionality, practical relevance of features, user-friendliness, flexibility and embedded intellectual property. High scores are given to those firms that achieved an appropriate balance between sophistication and user-friendliness. In addition, functionality that links risk to performance is given a positive score.”
“Following in depth analysis into the marketplace, we determined that Wolters Kluwer was category award winner for Regulatory Reporting – an accolade it has enjoyed for several years in our rankings,” said Rob Stubbs, Head of Research at Chartis. “Wolters Kluwer scored well, achieving Top Ten positions in Functionality, Customer Satisfaction and Market Presence, as well as securing the category winner award.”
Wolters Kluwer’s FRR business, 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. These solutions support regulated financial institutions in meeting their obligations to external regulators and their own boards of directors. Other key accolades for the business this year include winning Risk magazine’s coveted Regulatory Reporting System of The Year Award and being named Central Banking magazine’s Best Technology Solution For Regulatory Compliance. Both awards celebrate success in the field globally. Earlier this week, Regulation Asia also named Wolters Kluwer’s OneSumX for Regulatory Reporting the “Best Solution in Regulatory Reporting” in its Awards for Excellence, 2018.
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, Bank of Beirut, China Merchants Bank, China Everbright Bank, LGT and Nordea.