Sydney, the location of Santander Australia’s first branch

Banco Santander has selected Wolters Kluwer’s OneSumX solution for its Australian operations’ regulatory reporting.

OneSumX will be used by the Spanish bank to automate external reporting generation and to help deal with increasing Australian Prudential Regulation Authority (APRA) reporting requirements.

The bank opened its first branch in Sydney in early 2012, to offer services to Australian companies that trade and invest in Santander’s home markets of Europe and Latin America.

OneSumX was also chosen to keep the Banco Santander Australian operations in line with the latest regulatory standards, something that the ‘small team’ at Banco Santander Australia needed assistance with.

Chris Puype, managing director of Asia Pacific for Wolters Kluwer, says the deal highlights the firm’s deep commitment to the Australian market.

A sum of its parts

Sales have been good for Wolters Kluwer in recent times, with a number of institutions across the globe opting for OneSumX.

This includes the State Bank of India, which chose OneSumX for its French operations.

Italian Banca Monte dei Paschi di Siena, the oldest surviving bank in the world, has also selected OneSumX, and will be deploying it across multiple locations including the UK, Hong Kong and Shanghai.

UK-based digital-only bank Atom Bank will be implementing OneSumX to manage its UK and EBA reporting requirements. Atom states that it chose Wolter Kluwer due to its ‘subject matter expertise’ and ‘comprehensive’ solution.

In the Middle East, Oman-based Alizz Islamic Bank picked up OneSumX for its asset and liability management needs.

Leaf and branch

Santander, meanwhile, has been linked with a plan to buy up more than 300 branches from Royal Bank of Scotland (RBS) in an attempt to revive a deal that was cancelled more than three years ago.

Ana Botin, the Santander group chairman who led the 2012 deal, recently told investors that she would be investigating prime acquisition opportunities in its core markets – including the UK.

By Alex Hamilton

by IBS Intelligence