21 August 2017
visit www.avoka.com

Nippon Wealth signs for Wolters Kluwer OneSumX

27 July 2015  |  3353 views  |  0 Source: Wolters Kluwer Financial Services

Wolters Kluwer Financial Services has signed Nippon Wealth Limited, a Restricted License Bank (NWB) as a user of OneSumX.

The restricted license bank, based in Hong Kong and focused on Asia and Japan, will specifically use the solution for anti-money laundering (AML) and regulatory reporting, as it establishes its operations. The news follows a series of client win announcements from the risk and regulatory technology firm. It has, for example, also recently signed permanent TSB, Banca Monte Paschi Belgio, Bank of Tokyo Mitsubishi UFJ (Holland) and Israel Discount Bank.

OneSumX is a suite of solutions that connects governance, finance, risk, and compliance, allowing for the multidisciplinary management of complex risks and issues. The OneSumX AML solution, developed to provide firms with comprehensive real-time monitoring of risks, presents real threats as they arise and provides firms with the ability to address those risks in the most efficient manner. The OneSumX Regulatory Reporting solution, meanwhile, uses a single source of data to help ensure consistency, reconciliation and accuracy.

“We established NWB in August 2013 with a mission to provide clients with comprehensive wealth management services. Notably, we recently acquired approval from the Hong Kong Monetary Authority to establish a restricted license bank. As we establish operations and as part of our commitment to excellence, we have to ensure the highest standards in the fields of AML and regulatory reporting. Accordingly, we chose a technology provider which is vastly experienced in providing expertise in these areas – Wolters Kluwer Financial Services,” said Mr. Ryutaro Uehara, Chief Technology Officer at NWB.

Following the approval of NWB’s restricted banking license application in April 2015, the firm plans to acquire Type 1 and Type 4 licenses from the Securities and Futures Commission. Having commenced business in May 2015, NWB used the Wolters Kluwer Financial Services OneSumX solution for regulatory reporting and AML oversight.

“Our Asia Pacific business is witnessing impressive growth, thanks to our expertise and breadth of reach in the region. We are, of course, delighted to be working with NWB at this important point in its history,” commented Mr. Chris Puype, managing director for Asia Pacific at Wolters Kluwer Financial Services.  

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.worldpaymentsreport.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11031 views comments | 25 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9278 views 0 | 5 tweets | 1 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
9180 views comments | 21 tweets | 26 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9052 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8881 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job