Utilizing the Wolters Kluwer Financial Services regulatory reporting solution, MCBN will be able to calculate and submit the CoRep reports in compliance with the requirements outlined by the Basel Committee for Banking Supervision.

Wolters Kluwer Financial Services' automated regulatory reporting solution was selected by MCBN due to its efficient, accurate and manageable reporting processes and its ability to save time, resources and streamline processes. Having already previously selected Wolters Kluwer Financial Services' regulatory reporting solution for Belgium, MCBN committed to expanding the provision in order to meet reporting requirements in the Netherlands as well. As a result of this commitment, MCBN will benefit from Wolters Kluwer Financial Services' industry leading reporting capabilities and expertise.

"With the need for banks to provide ever more data whilst monitoring the data integrity, Mizuho Corporate Bank Nederland NV investigated the market to find an automated solution to cope with these increasing regulatory requirements," said David Morival, Risk Control Officer at Mizuho Corporate Bank Nederland NV. "Wolters Kluwer Financial Services came out on top due to its highly customizable modules and scalable database. The regulatory reporting solution is fit for the size of our organization and thereby ensures us of the best return on our investment. Bottom line, we believe Wolters Kluwer Financial Services' modular approach is the right answer to MCBN's business needs."

As a result of the implementation, MCBN can benefit from:
• Automation, standardization and simplification of reports as a result of less reliance on dependencies across the end to end process;
• Strong audit trails of data flows;
• Consistency across the different reports presented to the regulators including the Dutch National Bank and the National Bank of Belgium;
• In-built validation rules in line with the local regulator validation rules; and
• Drill-down function for cells of the returns/reports for detailed data analysis.

"The CoRep requirements are extensive and require firms to submit substantially more data at a more granular level and as result puts extra strain on resources. Wolters Kluwer Financial Services' CoRep application is integrated into the regulatory reporting and easily adaptable to local discretions," said Kris Van Bavel, VP EMEA at Wolters Kluwer Financial Services. "Through our deep domain expertise and the industry knowledge of our experts, we are very well placed to help firms become compliant with the CoRep regulatory reporting requirements in the Netherlands and across wider-Europe, having signed over 260 customers to our CoRep solution. We look forward to continuing to work with MCBN as they look to address their compliance needs across their business."