OneSumX wins Hong Kong mandate 28 July 2015Hong Kong Reporter: Stephanie Palmer
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Nippon Wealth Bank (NWB) has chosen Wolters Kluwer Financial Services’s OneSumX solution for its Hong Kong operations.
The restricted licence bank will use the solution for its anti-money laundering and regulatory reporting obligations. Based in Hong Kong, the bank focuses its business in Asia and Japan.
The OneSumX suite creates a connection between governance, finance, risk and compliance, and is designed to provide firms with real-time risk monitoring while addressing threats as they arise, as efficiently as possible.
It’s regulatory reporting function also uses a single source of data, leading to additional consistency, reconciliation and accuracy in reports.
Ryutaro Uehara, chief technology officer at NWB, said: “As we establish operations, and as part of our commitment to excellence, we have to ensure the highest standards in the fields of AML and regulatory reporting. Accordingly, we chose a technology provider which is vastly experienced in providing expertise in these areas.”
Chris Puype, managing director for the Asia Pacific region at Wolters Kluwer Financial Services, added: “Our Asia Pacific business is witnessing impressive growth, thanks to our expertise and breadth of reach in the region. We are, of course, delighted to be working with NWB at this important point in its history.”
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