Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), part of Wolters Kluwer’s Corporate Performance and ESG division, showcased its capabilities to help clients meet Capital Requirements Regulation III and Basel IV requirements at its annual FRR Client Conference in Sitges, Spain, this week.

OneSumX for Basel is the latest addition to Wolters Kluwer’s OneSumX platform, which features a suite of FRR suite solutions, addressing the tactical and strategic needs of finance, risk management, performance, compliance and regulatory reporting teams at financial institutions. OneSumX for Basel allows users to manage the entire Basel reporting process from data integrity and lineage through to finance and risk management and into regulatory calculators and reporting. This solution specifically covers standardized and advanced approaches across all bank sizes and risk types, from credit to market risk through to operational, settlement, credit valuation adjustment and counterparty credit risk.

Wolters Kluwer technology enables compliance with Basel II, Basel III, Basel 3.1 and Basel IV implementation and reporting timelines. The latest evolution of the OneSumX platform brought further technological improvements to the company’s cloud-native applications with improved security and memory processing. This evolution also brought improvements in terms of user experience, functionality and total cost of ownership.

“This really is the next milestone in the delivery of our FRR integration mission with the native integration of financial risk, the Basel regulatory framework and regulatory reporting,” Claudio Salinardi, executive vice president and general manager of Wolters Kluwer FRR, said. “OneSumX for Basel enables banks to be compliant with the complex Basel regulations with an integrated solution, utilizing our unique regulatory update service. As part of Wolters Kluwer CP & ESG, we are committed to helping our clients digitally transform the way they collect, report, analyze and assure the accuracy of their financial and ESG data, aiding efforts to build a distinct competitive advantage. Basel reporting is a vital component of this.”

Walter Kluwer demonstrated the solution suite and the new capabilities to attendees of the FRR Client Conference. The event also included an in-depth session delving into the implementation of Basel III/IV reforms across jurisdictions, examining the most pressing requirements that financial institutions face on their road to compliance, as well as distinct actions that should be taken now. Other sessions included insights into ESG reporting requirements and preparation for the European Union’s Central Electronic System of Payment information. Wolters Kluwer experts explored how best to determine the regulatory thresholds under CESOP and prepare systems for high volume data validations that can produce accurate transactional reporting.