SINGAPORE, April 7 (Bernama-BUSINESS WIRE) -- Wolters Kluwer’s Finance, Risk & Reporting (FRR) business and Vizor Software, today announced a partnership for the Singapore market that will increase the quality of regulatory reporting while reducing the time and effort required in regulatory compliance. Using the Vizor Reporting API, Wolters Kluwer’s OneSumX for Regulatory Reporting will now automatically consume published machine-readable regulatory rules and data models directly from Singapore’s regulatory system.
OneSumX for Regulatory Reporting will automatically integrate these specifications into its Financial Institution (FI) template solutions. This seamless alignment between the regulator and financial institution systems will facilitate an on-time and high-quality submission of regulatory reports, while also reducing the cost and effort associated with new or changing reporting requirements.
OneSumX for Regulatory Reporting combines bank data into a single source of data to ensure consistency, ease of reconciliation and accuracy. It includes access to Wolters Kluwer’s unique Regulatory Update Service which is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries. In July 2019 Wolters Kluwer announced the launch of its software-as-a-service (SaaS) Regulatory Reporting solution, marking the first time that the company’s OneSumX regulatory software has been made available on the cloud.
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