Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has won a major award for the Asia Pacific (APAC) region. Regulation Asia has named Wolters Kluwer’s OneSumX for Regulatory Reporting the “Best Solution in Regulatory Reporting” in its Awards for Excellence, 2018.

Regulation Asia is a leading online publication, providing actionable regulatory intelligence for APAC markets. Since its inception in 2013, its audience has grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing it to play a key role in the regulatory agenda. Its Awards for Excellence recognize companies that have shaped the regulatory landscape across APAC, providing independent verification of excellence and innovation. 

“The firm emerged as the winner after a rigorous selection process, involving a judging panel made up of subject-matter experts and theRegulation Asia editorial team,” the publication said on announcing the award win. “Some of the largest banks in Asia Pacific use Wolters Kluwer's OneSumX solution for Regulatory Reporting, as they strive to remain competitive amid an increasingly challenging regulatory landscape. A key differentiator was the solution’s regulatory update service, maintained by a team of experts who monitor regulation in approximately 30 countries to ensure the solution remains current and clients remain compliant with the latest reporting requirements at all times.”

Other key differentiators noted by Regulation Asia include “Wolters Kluwer’s ability to ensure support when needed given its strong Asia Pacific presence, and its community-building client engagement activities, which include quarterly bank forums, one-on-one discussions and news alerts.”

“In an ever changing regulatory landscape Wolters Kluwer’s OneSumX for Regulatory Reporting, Risk and Finance allows our clients to automate reporting in a manner which not only meets external compliance requirements, but also generates greater transparency internally. This allows for reduction of regulatory risk as well as enhanced management of information. This prestigious award provides independent verification of our leading position in the field,” commented Rainer Fuchsluger, Managing Director for Wolters Kluwer’s Finance, Risk & Reporting business in the APAC region. “On behalf of Wolters Kluwer I’d like to thank the editors of Regulation Asia for this important accolade and look forward to continuing to deliver expert solutions for our wide and growing APAC client base in 2019.”

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 awards 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.

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, active in APAC, that have recently announced their use of Wolters Kluwer solutions include ABN AMRO, SME Development Bank Malaysia Berhad, China Merchants Bank, China Everbright Bank, LGT and Land Bank of Taiwan.

Wolters Kluwer is sharing its integrated regulatory compliance and reporting expertise at this week’s Singapore FinTech Festival – the world’s largest FinTech event. The annual event, which is organized by The Monetary Authority of Singapore (MAS) in partnership with The Association of Banks in Singapore, is currently being held at the Singapore Expo Exhibition and Convention Centre and is expected to attract more than 30,000 delegates.