Wolters Kluwer Compliance Solutions has recently expanded its portfolio with the launch of OneSumX Reg Manager.
This AI-enhanced tool is tailor-made for U.S. community banks and credit unions aiming to bolster their regulatory change management processes.
The inception of OneSumX Reg Manager is a strategic response to the intricate regulatory challenges faced by smaller financial institutions. Recognizing the need for a specialized solution that caters to the unique needs of community banks and credit unions, Wolters Kluwer has meticulously designed OneSumX Reg Manager to facilitate a more effective navigation through regulatory changes.
Wolters Kluwer Compliance Solutions is renowned for its comprehensive suite of products designed to assist financial institutions across the U.S. in managing regulatory change more efficiently. The OneSumX portfolio is particularly celebrated for its capability to simplify complex regulatory landscapes for larger financial institutions, marking a significant stride in the field of RegTech.
OneSumX® Reg Manager distinguishes itself by integrating cutting-edge AI technology with a deep understanding of compliance requirements. This combination ensures that financial institutions can monitor and adapt to regulatory changes with unprecedented accuracy and efficiency. The solution boasts an automated workflow specifically designed to meet the demands of community banks and credit unions, offering a seamless regulatory tracking and compliance documentation process.
The product’s innovative approach is evident in its structured data feed feature, which aggregates regulatory content from all pertinent U.S. state and federal agencies. This AI-powered functionality, along with an authoritative source library, provides institutions with the tools to map out relevant regulations, monitor their implementation, and mitigate compliance risks effectively.
Feedback from early adopters like STAR Financial Bank has been overwhelmingly positive. The platform’s user-friendly interface and consolidated regulatory information hub have significantly enhanced the efficiency of compliance processes.
Wolters Kluwer Compliance Solutions Executive Vice President and General Manager, Vikram Savkar, expressed enthusiasm about the positive impact OneSumX® Reg Manager is poised to have on community banks and credit unions, highlighting the blend of AI and expert support that underpins the solution’s robust regulatory change management capabilities.
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