Finance, Risk and Regulatory Reporting’s OneSumX product recognized for its IFRS 9 innovations

SINGAPORE: #ECL--Wolters Kluwer, a global leader in professional information, software solutions and services, today announced that its Finance, Risk and Regulatory Reporting (FRR) business has been recognized by RegTech Insight, with OneSumX winning the Best Regulatory Compliance Solution for IFRS 9, in its APAC Awards, 2024.

OneSumX IFRS 9, part of FRR’s OneSumX product, supports clients with the implementation of the full International Financial Reporting Standard 9 (IFRS 9). The solution provides a solid framework to capture and store all information at the contract level. It helps to manage events and transactions, IFRS calculations, accounting generation and processing up to the delivery of the disclosures.

Jeroen Van Doorsselaere, Vice President, Product and Platform Management, Wolters Kluwer FRR, said: “Our OneSumX IFRS 9 solution supports regulatory disclosures from local supervisors across the globe and offers powerful reporting tools. We are proud to be recognized for innovation and product excellence and a leader in regulatory compliance solutions.”

The awards program recognizes those “RegTech solutions that have successfully improved firms’ ability to respond to evolving and ever more complex regulatory requirements across the global financial services industry.” The RegTech Insight Awards Advisory Board, which includes senior executives from Credit Suisse, DBS Bank, HSBC, OCBC Bank and Standard Chartered, reviews nominations in collaboration with the publication’s editors.

Angela Wilbraham, CEO at A-Team Group, and host of the 2nd annual RegTech Insight Awards APAC 2024, commented: “These awards celebrate providers of leading RegTech solutions, services and consultancy across Asia-Pacific. The winners were selected by A-Team Group’s RegTech Insight community and demonstrated exceptional creativity in building solutions that solve regulatory challenges. Our congratulations go to Wolters Kluwer for winning Best Regulatory Compliance Solution for IFRS 9.”

Wolters Kluwer also won the RegTech Insight honor in 2022. Other recent accolades for OneSumX for FRR include securing Category Leader positions in all four categories of the ALM (Asset Liability Management) Market Update and Vendor Landscape report, published by Chartis Research.

FRR’s OneSumX is part of Wolters Kluwer’s Corporate Performance & ESG (CP & ESG) division, headed by CEO Karen Abramson. Wolters Kluwer CP & ESG is the world’s leading provider of integrated software solutions for EHS, Environmental, Social, and Governance (ESG), and Governance, Risk and Compliance (GRC).

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.

Fonte: Business Wire