BBVA’s U.K. subsidiary has opted to use Wolters Kluwer’s OneSumX to provide a solution for its regulatory reporting and liquidity risk requirements.
OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance, increasing organizational profitability, efficiency and growth.
OneSumX Regulatory Reporting 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. The OneSumX Liquidity Risk Management solution combines a risk management/stress engine and regulatory reporting platform which enables firms to monitor, manage and report liquidity risk.
“As a leading global bank BBVA needed a comprehensive solution to ensure its U.K. regulatory obligations and liquidity risk are managed optimally – Wolters Kluwer provides this,” says Marta Garcia, Head of Production Management at BBVA in London
Other banks that have recently signed up to use OneSumX include Mizuho, BGFI, Taiwan Business Bank and Bank BGŻ BNP Paribas.
“BBVA’s decision to use our liquidity risk and regulatory reporting software is another important validation of our leading position in the field,” notes Kris Van Bavel, managing director, EMEA, Finance, Risk and Reporting, for Wolters Kluwer. “Our deep understanding of the markets enables us to provide clients like BBVA with comprehensive integrated risk and reporting solutions and we look forward to continuing our work with the bank.”
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments. The division’s prominent brands include: AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT Corporation, CT Lien Solutions, ComplianceOne®, Corsearch, Expere®, GainsKeeper®, LegalVIEW®, OneSumX®, Passport®, TyMetrix® 360, Uniform Forms™, VMP® Mortgage Solutions and Wiz®.
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 2016 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 19,000 people worldwide.