Milleis Banque chooses Wolters Kluwer for regulatory reporting

Milleis Banque has picked Wolters Kluwer for an integrated regulatory compliance and software solution.

The bank shall use Wolters Kluwer’s OneSumX solution for its risk management and regulatory reporting processes in order to build an integrated risk and reporting framework.

One of the specific tools of OneSumX Milleis is leveraging is the asset and liability management solution, which is a data repository combining data, balance sheet structures, counterparty and market data. It is also accessing the market risk service which delivers risk analysis through advanced value at risk techniques in order to create dynamic simulations of credit and market risk.

The bank shall be using the credit risk of OneSumX to provide a single name and portfolio credit risk analysis. This is completed through current and future exposures, expected and unexpected credit loss based on stress and credit value-at-risk analysis, and credit value adjustments.

OneSumX’ regulatory reporting solution uses a singe source of data to ensure consistency and accuracy and is maintained by a group of experts continuously monitoring regulations in around 30 countries.

Milleis was initially a Barclays French retail banking and wealth management company until it was acquired in 2017 by AnaCap and rebranded.

Last week, Bendigo and Adelaide Bank revealed it had completed the first phase of the implementation of Wolters Kluwer’s OneSumX solution for Regulatory Reporting.

The OneSumX solution is a part of Wolters Kluwer FRR’s wider Governance, Risk & Compliance (GRC) division. Its GRC unit offers banking professionals with a selection of compliance tools to meet regulatory and legal requirements, manage risk, increase efficiency, stay competitive and produce better business outcomes.

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