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SBI to use Wolters Kluwer tool for China operations

WoltersRajya Bhasha implementation prize for CBIState Bank of India has chosen tools from Wolters Kluwer for its new Chinese branch in Tianjin. These tools are expected to help the bank deal with China’s regulatory reporting requirements. Using the Wolters Kluwer regulatory reporting solution, the bank will submit its operational, financial and accounting reports to the People’s Bank of China, China Banking Regulatory Commission and China State Administration of Foreign Exchange. SBI has been active in the Chinese market since 2006, when it set up a head office in Shanghai. However, when it established a new branch in Tianjin it took the chance to centrally manage its compliance across China by using Wolters Kluwer’s automated regulatory reporting tools.

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