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Wolters Kluwer releases new SaaS-based regulatory reporting service

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has released a new SaaS regulatory reporting solution.

The company offers a OneSumX service, a regulatory reporting platform which leverages a single source of data to ensure consistency and accuracy is maintained by a group of experts. With the release of the new SaaS solution, it will be the first time the OneSumX regulatory software will be available through the cloud.

Alongside the launch of the new service, Wolters Kluwer FRR has launched an upgrade to its OneSumX Regulatory Engine which is being deployed to all its on-premise installations and has already been implemented into the SaaS offering.

Improvements to the engine has improved the performance and user experience regarding speed, automation and scalability.

The new SaaS solution offers the same capabilities as its on-premise product, combining bank data into a single data source to ensure consistency and ease of reconciliation and accuracy. Its platform monitors any changes to compliance.

In line with the SaaS launch, Wolters Kluwer has partnered with Microsoft Azure to provide premium and secure hosting to clients.

Wolters Kluwer FRR executive vice president & general manager Claudio Salinardi said, “Putting our customers’ needs consistently at the heart of our business means listening and innovating.

“Our Regulatory Engine upgrade is a milestone in meeting our clients’ evolving demands in the world of exponentially increasing regulatory requirements, together with enhanced risk management practices. And, with the launch of our regulatory solutions via SaaS, we are continuing the long tradition within Wolters Kluwer as a whole of providing options for cloud or on-site services. This is an exciting time for our clients who now, more than ever, have access to truly market leading capabilities.”

Earlier in the year, Milleis Banque teamed up with Wolters Kluwer to access its regulatory compliance and software services. The bank is utilising the RegTech platform to improve its risk management and regulatory reporting processes.

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