Taiwan Business Bank’s Wuhan, China, branch has optedd Wolters Kluwer’s OneSumX Regulatory Reporting solution, as the regulatory requirements in China has increased. OneSumX Regulatory Reporting solution will enable the bank to meet China Banking Regulatory Commission’s (CBRC) requirements for Basel III & Foreign Asset Liability regulatory reporting. The new branch in Wuhan will pilot the solution, also using Wolters Kluwer’s Regulatory Update Service (RUS). The service is maintained by experts who actively monitor regulation in approximately 50 countries globally, to ensure the solution is current at all times. The bank also chose OneSumX Regulatory Reporting for its ability to provide a full audit trail, user workflow management and data workflow management. Wolters Kluwer finance, risk and reporting Asia Pacific MD Chris Puype said they are committed to China and recognize the need to manage these vast changes in the financial industry with updated, scalable solutions.
