TechDogs-"CGD selects Wolters Kluwers OneSumX for Regulatory Reporting"

Financial Technology

CGD selects Wolters Kluwers OneSumX for Regulatory Reporting

By Business Wire

Business Wire
Overall Rating

TechDogs-"CGD selects Wolters Kluwers OneSumX for Regulatory Reporting"

LISBON, Portugal--(BUSINESS WIRE)--#regulatoryreporting--Caixa Geral de Depósitos (CGD), the Portuguese state-owned banking corporation, and the largest bank in Portugal, has chosen to implement award-winning regulatory reporting software from Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR).

OneSumX for Regulatory Reporting combines bank data into a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries.

CGD will use the solution to help comply with the Capital Requirements under CRR/CRD Directives. “Wolters Kluwer provides the know-how and proven expertise to ensure a successful implementation,” commented Hugo Verissimo Oliveira, CDO at CGD. “During the project, new processes will enable data flow automation, enabling the bank to integrate a common reporting framework, capital requirements, and financial reporting, including the deployment of data integration.”

“This deal represents a strategic win for FRR’s Portuguese team and showcases our position in the market,” added Kris Van Bavel, Managing Director of Wolters Kluwer FRR for the EMEA region. “We continue to attract a wide range of clients in the country and throughout the region, and look forward to working with CGD’s team on the implementation of our market-leading regulatory reporting solution, OneSumX.”

Wolters Kluwer FRR, which is part of the company’s Governance, Risk & Compliance (GRC) 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. The business and its OneSumX for Regulatory Reporting solution is this year’s recipient of Risk.net’s prestigious Regulatory Reporting System of the Year award, an accolade Wolters Kluwer FRR has won for an unprecedented fourth time.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help 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 (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Contacts

Media Contact for Wolters Kluwer GRC
(Including for Wolters Kluwer Finance, Risk & Regulatory Reporting; Wolters Kluwer Compliance Solutions; Wolters Kluwer ELM Solutions, and Wolters Kluwer CT Corporation)

Paul Lyon
Senior Director, Global Corporate Communications: Global Marketing, Communications & Planning
Governance, Risk & Compliance Division
Wolters Kluwer
Office +44 20 3197 6586
Paul.Lyon@wolterskluwer.com

Liked what you read? Head to the TechDogs homepage to find the latest tech content infused with drama and entertainment. We've got ArticlesWhite PapersCase StudiesReportsVideos and Events that help you Know Your World of Technology.

First published on Thu, Dec 22, 2022

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

Wolters Kluwer Caixa Geral de Depósitos (CGD) Banking Professionals Legal Operations Management Banking Product Compliance

References:

Join The Discussion

  • Dark
  • Light