ABLV Bank, the Latvia-based private bank,
has chosen Wolters Kluwer’s
OneSumX to provide its regulatory reporting software for both its Latvian
headquarters and its Luxembourg-based subsdiary, including European Banking
Authority reporting obligations.
an ecosystem of complementary and comprehensive solutions and services to manage
the intersection of governance, finance,
risk and compliance.
Increasing organizational efficiency, adaptability and growth capacity.
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.
Bank Luxembourg is a newly established bank that will break even this year after
three years of activity. It works hard to satisfy its clients needs while
ensuring all our regulatory obligations are managed comprehensively and in a
timley way in a period of frenetic increase of the regulatory burden. As a
result it’s clear that we require a market leading technology provider to aid us
in these ongoing efforts. We look forward to continuing to work with Wolters
Kluwer,” says Benoît Wtterwulghe, Chief Executive Officer at ABLV Bank
“Private banks, more than ever before, are under pressure 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 deep understanding of the markets, through our large installed base in
Luxembourg and the rest of Europe, not to mention our content rich offering,
allows us to provide clients such as ABLV Bank with a comprehensive regulatory
reporting solution. We very much look forward to continuing to work with
Other banks that have recently signed up to use OneSumX include BGFI,
Business Bank, Bank
BGŻ BNP Paribas and Sberbank.
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which
provides legal, finance, risk and compliance professionals and small business
owners with a broad spectrum of solutions, services and expertise needed to help
manage myriad governance, risk and compliance needs in dynamic markets and
regulatory environments. The division’s prominent brands include:
AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT
Corporation, CT Lien Solutions, ComplianceOne®, Corsearch, Expere®,
GainsKeeper®, LegalVIEW®, OneSumX®, Passport®, TyMetrix® 360, Uniform
Forms™, VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V.
(AEX: WKL) is a global leader in information services and solutions for
professionals in the health, tax and accounting, risk and compliance, finance
and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion.
The company, headquartered in Alphen aan den Rijn, the Netherlands, serves
customers in over 180 countries, maintains operations in over 40 countries and
employs 19,000 people worldwide.