Mizuho Bank Nederland, the Dutch arm of Japan-based Mizuho Bank, has selected Wolters Kluwer’ OneSumX platform for risk calculations and multi country regulatory reporting.

The platform, according to the technology vendor, offers an ecosystem of solutions and services to manage the intersection of governance, finance, risk and compliance.

The solution will help Mizuho to produce financial reports in Extensible Business Reporting Language (XBRL) standard, as per the requirement set by the Dutch National Bank.

Mizuho Bank Nederland managing director and chief risk officer Jens Pohland said: “Mizuho Bank needed a leading solution to ensure its regulatory obligations for the Netherlands, Belgium and Austria are managed comprehensively – Wolters Kluwer provides this.

“Especially now that The Dutch National Bank (DNB) is changing its delivery protocol, we rely on the firm’s expertise for our XBRL requirements.”

The Japanese lender already uses Wolters Kluwer solutions across its other European operations.

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Samir Tatou, who managed the project at Mizuho, said: “A multi country implementation in the domain of regulatory reporting poses many challenges to an organization. Thanks to the close collaboration between the bank and Wolters Kluwer we succeeded and won the trust of our compliance officers and our auditors.”