British digital challenger bank Atom has selected Wolters Kluwer Financial Services’ OneSumX Regulatory Reporting solution to meet regulatory reporting requirements.

The chosen solution, which is part of OneSumX for Compliance, will enable the bank to address statutory, prudential, transactional and statistical requirements on a local and global scale.

The platform makes use of a single source of data to facilitate consistency, reconciliation as well as accuracy, Wolters Kluwer said.

Atom chief financial officer Dave McCarthy said: "Championing customer experience with a low-cost model, transparent pricing and digital innovation is what we are all about at Atom. And, like all banks, we need to ensure we have robust systems in place that can demonstrate our commitment to upholding the highest standards.

"With this in mind OneSumX enables us to effectively manage our reporting requirements, enabling navigation of the regulatory landscape and we look forward to implementing this leading solution."