Wolters Kluwer launches OneSumX for Basel FinTech solution

By Gloria Methri

Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) is launching OneSumX for Basel – the latest addition to the OneSumX for FRR suite of solutions. The expert solution allows users to manage the entire Basel reporting process from data integrity and lineage, through to finance and risk management, and into regulatory calculators and reporting.

OneSumX for FRR addresses the tactical and strategic needs of finance, risk management, performance, compliance, and regulatory reporting teams at financial institutions.

The OneSumX for Basel solution specifically covers standardized and advanced approaches across all bank sizes and risk types – from credit to market risk, through to operational, settlement, credit valuation adjustment, and counterparty credit risk.

The company says that the latest evolution of the OneSumX platform brings further technological improvements to the company’s cloud-native applications with state-of-the-art security, and in memory processing for faster calculations. There are also significant improvements in terms of user experience, functionality, and total cost of ownership, making it simpler and easier to comply with regulatory requirements whether implemented on-premise or on the cloud as software-as-a-service (SaaS).

“This really is the next milestone in the delivery of our FRR integration mission with the native integration of financial risk, the Basel Regulatory framework, and regulatory reporting,” commented Claudio Salinardi, Executive Vice President and General Manager, Wolters Kluwer FRR. “OneSumX for Basel enables banks to be compliant with the complex Basel regulations with an integrated solution, utilizing our unique Regulatory Update Service. As part of Wolters Kluwer CP & ESG we are committed to helping our clients digitally transform the way they collect, report, analyze, and assure the accuracy of their financial and ESG data, aiding efforts to build a distinct competitive advantage. Basel reporting is a vital component of this.”,