Wolters Kluwer Financial & Corporate Compliance said that Triodos Bank UK has deployed its OneSumX for Regulatory Reporting solution to enhance regulatory reporting capabilities.
According to Wolters Kluwer, the Software-as-a-Service (SaaS) solution addresses liquidity reporting, Common Reporting (COREP), financial reporting (FINREP), and UK-specific Prudential Regulation Authority (PRA) 110 requirements.
In light of post-Brexit regulatory changes in the UK, Triodos Bank sought a robust platform to enhance data control and adaptability, said Wolters Kluwer.
Triodos Bank CFO Sarah Morse said: “We selected Wolters Kluwer because of their global presence and strong product offering.
“With OneSumX, we’ve strengthened control over our reporting, gained better visibility into our data, and positioned ourselves in a stronger position to meet evolving requirements.”
The project is said to have been driven by a collaborative approach, with internal data experts from Triodos Bank working alongside Wolters Kluwer’s professional services team. This partnership facilitated improved data ingestion and reporting control.
The system’s features allow for enhanced ownership of the reporting process, increasing accuracy and speeding up issue resolution.
OneSumX includes a Regulatory Update Service to ensure continuous alignment with regulatory changes. Its advanced data architecture supports exposure analysis and scenario testing, aligning with Triodos Bank’s risk management values.
Triodos Bank, established in 1980, is engaged in sustainable banking, financing enterprises that produce positive social, environmental, or cultural impacts across several European countries.
Wolters Kluwer senior vice president and finance, risk and regulatory reporting (FRR) general manager Dean Sonderegger said: “Triodos Bank’s focus on responsible finance aligns with our mission to help institutions lead with confidence.
“This implementation is a strong example of how cloud-based regulatory technology, applied through close collaboration, can improve transparency, agility, and long-term readiness.”
Recently, Wolters Kluwer announced that Shanghai Commercial Bank has implemented OneSumX for its regulatory reporting and risk management needs. This step is said to mark significant progress in the bank’s governance, risk, and compliance initiative, ensuring compliance with Basel III requirements in Hong Kong and improving overall operational efficiency.
