China Merchants Bank picks OneSumX for regulatory reporting
China Merchants Bank has chosen Wolters Kluwer’s OneSumX software to support its regulatory reporting in the US, reports Jane Connolly.
OneSumX for regulatory reporting combines bank data into a single accurate, consistent and reconciled source.
It includes the regulatory update service, which is maintained by experts actively monitoring regulation in 30 countries.
“The comprehensive features available in OneSumX for regulatory reporting provides extensive functional coverage, adaptability and scalability and these were all qualities we were looking for when selecting the software,” says Joseph Loffredo, assistant general manager and chief financial officer for China Merchants Bank’s New York branch.
He adds: “Wolters Kluwer’s subject matter experts provide unrivalled expertise and the ease of integration with other technology makes OneSumX for Regulatory Reporting an attractive proposition.”
The company’s governance, risk and compliance division offers a portfolio of technology-enabled services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
