Finance, risk and regulatory reporting tech vendor Wolters Kluwer is celebrating yet another client win. This time it’s BGFI Bank, the Gabon-based financial services conglomerate, that has chosen Wolters Kluwer’s OneSumX to provide its regulatory reporting software. The firm will use the software specifically for its French and European Banking Authority reporting obligations.
The bank has specifically signed up to use Wolters Kluwer’s OneSumX Regulatory Reporting, including 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. OneSumX Regulatory Reporting, uses a single source of data to ensure consistency, reconciliation and accuracy.
“BGFI is committed to ensuring regulatory obligations are taken seriously and so it’s clear that we must use a trusted and market leading technology provider to aid us in our efforts,” says Frank Boucton, Chief Financial Officer at BGFI. “By opting for content-led technology experts in Wolters Kluwer we will be kept up to date with regulations as they change.”
“Globally financial institutions are required to submit an ever increasing range of information to regulators,” notes Kris Van Bavel, managing director, EMEA, Finance, Risk and Reporting, for Wolters Kluwer. “Our content rich offering allows our growing clientbase to manage their regulatory obligations with precision. We look forward to continuing to work with BGFI.”
Wolters Kluwer was named Corporate Vision magazine’s winner of its Best International Financial Services Software accolade for 2016 as part of its annual Technology Innovator Awards. The award follows closely from an announcement by Continuity, Insurance & Risk (CIR) magazine that it has shortlisted the vendor for a major risk management award. The publication has named Wolters Kluwer as a finalist for its Operational Risk Initiative of the Year, in its annual Risk Management Awards. Now into their 7th year, the Awards recognize those individuals, organizations and teams that have significantly added to the understanding and practice of risk management.
Earlier this year Chartis Research named Wolters Kluwer a Category Leader for the financial services industry in its FinTech Quadrant on International Financial Reporting Standards (IFRS) 9 Technology Solutions. The FinTech Quadrant uses in-depth research and a clear scoring system to determine which IFRS 9 technology solutions in the marketplace can best meet an organization’s needs. And in January Wolters Kluwer earned another Top 10 rating in the annual Chartis RiskTech100 report, a comprehensive study of the world’s most significant risk and compliance technology companies. The company garnered the No. 6 spot overall of 100 ranked firms, marking the sixth consecutive year it has been rated among the top 10 firms. It also won top ranking in the Regulatory Reporting category, five years running that it has achieved that honor, also taking the top spot in the International Financial Reporting Standards (IFRS) 9 category for 2016.