The British subsidiary of Spanish banking group BBVA has selected Wolters Kluwer’s OneSumX platform to meet regulatory reporting and liquidity risk requirements.
The selected platform, which offers an ecosystem of complementary and comprehensive solutions and services, will enable the bank to manage the intersection of governance, finance, risk and compliance, the technology vendor said.
To ensure consistency, reconciliation and accuracy during the process, OneSumX Regulatory Reporting leverages a single source of data. The platform also includes the firm’s Regulatory Update Service, which is managed by the company’s experts who actively monitor regulation in nearly 50 countries.
The OneSumX Liquidity Risk Management solution clubs a risk management/stress engine and regulatory reporting platform that allows firms to monitor, manage and report liquidity risk.
BBVA head of production management in London Marta Garcia said: “As a leading global bank BBVA needed a comprehensive solution to ensure its UK regulatory obligations and liquidity risk are managed optimally – Wolters Kluwer provides this.”