Wolters Kluwer Wins Major Accolades for SaaS Regulatory Reporting Solution and Regulatory Engine Upgrade

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has won three major accolades for its industry leading integrated regulatory compliance and reporting solutions. The awards specifically celebrate the success of the company’s software-as-a-service (SaaS) Regulatory Reporting solution and its Regulatory Engine Upgrade, both launched in mid 2019.

IBS Intelligence has named Wolters Kluwer’s OneSumX suite of solutions its Most Innovative Compliance/RegTech Solution in its inaugural Global FinTech Innovation Awards. Established in 1991, IBS Intelligence, a member of Cedar Group, is a highly regarded global FinTech news, research and analyst firm.

Editors of the publication noted how Wolters Kluwer FRR “has had a busy 2019 with the launch of OneSumX on the cloud as part of the regulatory reporting SaaS solution. Available as a cloud service for the first time, it aligns with the cloud technology strategies adopted by the company’s customers for predictable and lower costs.”

Since the launch of the service, the Dutch partially state-owned BNG Bank has signed up to use OneSumX in order to automate its regulatory reporting processes and to better ensure reconciliation of reporting between the bank’s own functional departments. “Wolters Kluwer expects plenty more uptake in 2020, as it is putting customers’ needs consistently at the heart of its business by listening and innovating” editors at IBS Intelligence added. “OneSumX is a great example of a true market leader, making Wolters Kluwer FRR a worthy winner of this accolade.”

Finance Monthly, meanwhile, has bestowed Launch of the Year accolades on Wolters Kluwer FRR for both its SaaS Regulatory Reporting Solution and the Regulatory Engine Upgrade, as part of its highly competitive FinTech Awards for 2020. The new Regulatory Engine is characterized by enhanced performance and a better user experience, in terms of speed, automation and scalability. Finance Monthly is a global publication from the Universal Media stable, providing news, comment and analysis, distributed to 195,880 people each month.

Wolters Kluwer FRR, 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. 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. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the second year running, and Waters Technology has named the company the Best Market Risk Solution Provider in its annual Technology Rankings. Wolters Kluwer is also the #1 provider in both Regulatory Reporting and Liquidity Risk according to the RiskTech100, as compiled by Chartis Research.

Governance, 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 (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 2018 annual revenues of €4.3 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 18,600 people worldwide.