SINGAPORE–(COMMERCIAL THREAD) – Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) won three major awards for its RegTech, Risk Management and Regulatory Reporting solutions in the Asia Pacific (APAC) region. Water technology named the company’s OneSumX for FRR as the best middle office platform in its 2021 Asia Awards and the Hong Kong Monetary Authority (HKMA) awarded the company two accolades in its Global RegTech Challenge. The highly competitive award series are both free to enter industry competitions, with two expert panels judging winners based on evidence of excellence and innovation.
Water technology is a 37-year-old FinTech industry journal published by Infopro Digital, owners of Risk.net and Chartis Research. Its award for Best Middle Office Platform reflects the strong market adoption of OneSumX for FRR, Wolters Kluwer’s best suite of integrated regulatory compliance and reporting solutions that establishes a single source of data for financial reporting, risk and regulatory framework which is enriched with value-adding content from internal experts.
HKMA, meanwhile, received over 85 entries from 15 jurisdictions for its Global RegTech Challenge, with Wolters Kluwer FRR winning two of the four titles offered in the awards program. The competition was designed by the regulator “to sensitize the Hong Kong banking industry to the potential of adopting RegTech.” Wolters Kluwer FRR won the Governance, Risk and Compliance (GRC) category, âdemonstrating to the jury how its existing technology can be used to optimize regulatory compliance for all internal and external obligationsâ. The company also won the Risk Management category, demonstrating “how its multiple award-winning risk management technology can be used to improve the implementation of stress testing requirements based on the needs of different risk management teams. risk, compliance and business unit â.
Rainer Fuchsluger, Managing Director of Wolters Kluwer FRR APAC, said: âThese very prestigious awards reflect the strong market adoption of our industry-leading OneSumX for FRR suite of solutions. We continue to innovate across the RegTech ecosystem, providing all of our major clients with access to a truly integrated approach to finance, risk and regulatory reporting. I would like to thank everyone who contributed to the solutions and presented these awards, as well as our day-to-day success in helping our banking customers continue to meet their regulatory compliance obligations. I would also like to thank the HKMA team for recognizing our commitment to innovation, as well as the editorial team at Water technology for independently recognizing the middle office capabilities of OneSumX for FRR.
Wolters Kluwer FRR, part of the GRC division of Wolters Kluwer, is a global market leader in providing integrated regulatory compliance and reporting solutions. It helps regulated financial institutions meet their obligations to external regulators and their own boards of directors.
About Wolters Kluwer Governance, risk and compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with evolving regulatory and legal obligations, manage risk, increase efficiency and deliver better results. commercial. GRC offers a portfolio of technology 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 healthcare, tax and accounting, risk and compliance, finance and legal industries. Wolters Kluwer achieved 2020 annual sales of 4.6 billion euros. The company, headquartered in Alphen aan den Rijn, The Netherlands, serves customers in more than 180 countries, maintains operations in more than 40 countries and employs 19,200 people worldwide.