Wolters Kluwer Finance’s Risk & Reporting business, OneSumX, recently was named Risk magazine’s “Regulatory Reporting System of the Year, 2018,” in the publication’s annual Technology Awards, celebrating excellence and innovation.
The awards, which are widely regarded to be among the most prestigious accolades for financial technology, were decided by an expert panel of judges, including Risk magazine’s editorial team, according to a press release.
Judges called OneSumX regulatory reporting “a well-differentiated solution [that provides] a comprehensive set of features matched to the needs of clients.” The panel also commented on the business’s strong data handling and management, featuring “good coverage of global reporting requirements,” taking into account client testimonials.
OneSumX uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s Regulatory Update Service. The service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 50 countries, helping to ensure the solution is current at all times.
“Wolters Kluwer 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,” said Claudio Salinardi, executive vice president and general manager of Wolters Kluwer’s Finance, Risk & Reporting business. “Hotly contested awards such as this important accolade from Risk magazine provide independent verification of our leading position in the market. The integrated nature of our OneSumX suite of solutions, which comprises core finance, risk and regulatory reporting offerings, means our clients have access to cutting-edge technology, enabling them to integrate their finance, risk and reporting architecture. We will continue to work closely with clients globally to help them manage their increasingly demanding regulatory obligations.”