Gabon-based BGFI Bank has selected Wolters Kluwer’s OneSumX regulatory reporting software for its French and European banking authority reporting obligations.

The OneSumX platform offers an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance (GFRC).

The bank has also signed up to use Wolters Kluwer’s Regulatory Update Service, which maintained by the company’s experts who actively monitor regulation in approximately 50 countries.

OneSumX Regulatory Reporting uses a single source of data to ensure consistency, reconciliation and accuracy, the technology vendor said.

BGFI chief financial officer Frank Boucton said: “BGFI is committed to ensuring regulatory obligations are taken seriously and so it’s clear that we must use a trusted and market leading technology provider to aid us in our efforts. By opting for content-led technology experts in Wolters Kluwer we will be kept up to date with regulations as they change.”

Kris Van Bavel, managing director, EMEA, Finance, Risk and Reporting, for Wolters Kluwer, commented: “Globally financial institutions are required to submit an ever increasing range of information to regulators. Our content rich offering allows our growing clientbase to manage their regulatory obligations with precision. We look forward to continuing to work with BGFI.”

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By GlobalData

Recently, other banks which include Banco Santander, Taiwan Business Bank, Bank BG? BNP Paribas and Sberbank also signed up to use OneSumX.