Canadian lender CIBC has chosen Wolters Kluwer’s OneSumX for regulatory reporting software in the UK and Asia Pacific region.
The bank has specifically opted for the technology vendor’s OneSumX Regulatory Reporting, which includes the Regulatory Update Service.
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CIBC already uses the OneSumX platform in the UK to service Bank of England statistical and prudential reporting, as well as EBA COREP, FINREP and liquidity reporting.
The bank has now extended the use of the platform to include requirements for Japan and Australia, using centralised instances of the underlying OneSumX Regulatory Reporting data model that is installed at CIBC’s Toronto headquarters.
Plans are also on to introduce the solution in Hong Kong and Singapore.
Wolters Kluwer executive vice president and general manager of finance, risk and reporting Clive Pedder said: “Globally financial institutions are required to submit an ever-increasing range of information to regulators.
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By GlobalData“Our content-rich offering allows clients to manage their regulatory obligations with precision. We look forward to continuing our work with CIBC."
