Bendigo & Adelaide Bank Chooses Wolters Kluwer’s Finance, Risk & Reporting Bus. to Provide Integrated Regulatory Reporting ...
June 18 2018 - 7:00PM
Business Wire
Bendigo and Adelaide Bank has chosen Wolters Kluwer’s OneSumX to
provide its regulatory reporting solution for its operations in
Australia.
The leading Australian bank will implement OneSumX Regulatory
Reporting which 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 50
countries, helping to ensure the solution is current at all
times.
Bendigo and Adelaide Bank will specifically use the Regulatory
Reporting functionality for its Authorised Deposit-Taking
Institution (ADI) in Australia obligations.
“Following a thorough evaluation of a range of solutions,
Bendigo opted for the OneSumX solution offered by Wolters Kluwer,”
commented Patricia Zeitz, Financial Controller for Bendigo and
Adelaide Bank. “We are confident that Wolters Kluwer with its deep
regulatory reporting experience and scalable OneSumX solution, will
provide the Bank with the best possible solution to meet the
changing needs of the regulator.”
David Rule, Australia and New Zealand Account Manager at Wolters
Kluwer’s Finance, Risk & Reporting business, added: “As
external reporting obligations to The Australian Prudential
Regulation Authority continue to increase in complexity, the
functionality to benchmark constantly changing regulations is a
sensible choice for ADIs. OneSumX for Regulatory Reporting equips
our clients with an award winning solution that addresses the
increasingly complex and demanding regulatory environment, helping
to ensure increased data granularity and transparent data lineage.
We have added five ADIs, seeking to manage their obligations under
the Economic and Financial Statistics (EFS) reform, to our client
base and user group in the past two months. We look forward to
helping more firms modernize their external reporting
objectives.”
Leading financial services firms from across the world have
implemented the company’s award winning OneSumX solution for
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, China Everbright Bank, China Merchants
Bank, LGT and Nordea.
About Wolters Kluwer Governance, Risk &
ComplianceGovernance, Risk & Compliance (GRC) is a division
of Wolters Kluwer, which provides legal and banking
professionals with solutions to ensure compliance with
ever-changing regulatory and legal obligations, manage risk,
increase efficiency, and produce better business outcomes. GRC
offers a portfolio of technology-enabled expert services and
solutions focused on legal entity compliance, legal operations
management, banking product compliance, and banking regulatory
compliance.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information
services and solutions for professionals in the health, tax and
accounting, risk and compliance, finance and legal sectors. Wolters
Kluwer reported 2017 annual revenues of €4.4 billion. The company,
headquartered in Alphen aan den Rijn, the Netherlands, serves
customers in over 180 countries, maintains operations in over 40
countries and employs 19,000 people worldwide.
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Paul LyonDirector of International Corporate
CommunicationsGovernance, Risk & ComplianceOffice +44 20 3197
6586, Mobile +44 77 6539 1824Paul.Lyon@wolterskluwer.com