BGFI Bank Opts for Wolters Kluwer’s OneSumX for Regulatory Reporting
Posted: 4 October 2016 | Source: Wolters Kluwer
BGFI Bank, the Gabon-based financial services conglomerate, has chosen Wolters Kluwer’s OneSumX to provide its regulatory reporting software for its French and European Banking Authority reporting obligations.
OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance (GFRC), increasing organizational profitability, efficiency and growth. OneSumX is used by banks to manage a broad array of regulatory reporting, finance and risk obligations globally.
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.”