OneSumX® for Operational Risk solution continues to dominate this arena for financial services providers

Wolters Kluwer Compliance Solutions has earned a 2022 FTF News Technology Innovation Award for its OneSumX® for Operational Risk solution, marking the third consecutive year in which this technology has earned top honors for excellence in product innovation.

The FTF News Innovation Awards are a highly regarded, fiercely competitive, and merit-based international award program. Wolters Kluwer’s winning submission centered on the addition of several key upgrades, including improved functionality that expedites uploading of bulk data, the expansion of use cases and workflows that help track loss events, and further refinements in reporting and data extraction capabilities. These updates have provided a better user experience and overall product performance while ensuring conformance to the latest technology and industry security standards.

“For more than two decades, OneSumX for Operational Risk has been essential in helping our financial services clients automate and simplify the work of collecting, storing, analyzing, tracking and reporting on information vital to maintaining their operational risk frameworks,” said Steven Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “Winning an award once is an achievement; winning three years running is a testament to the ongoing excellence and innovation demonstrated consistently by this offering.”

As a purpose-built risk and compliance platform, OneSumX for Operational Risk allows banks, insurers and other financial services organizations to automate labor-intensive review and assessment processes, aggregate risks, produce high-quality enterprise reports and data extracts, and ensure the consistent delivery and currency of an organization’s policies and procedures.

FTF News was founded in 2006 by an experienced team of publishers and journalists, with backgrounds at Dow Jones, Trading Technology Week, Waters Technology and other leading financial news services. Its U.S.-based team is highly-respected and its annual awards are regarded as being among the preeminent accolades celebrating excellence and innovation in financial technology.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers, and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.

Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal® suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication, and an electronic vault. Compliance Solutions’ OneSumX® for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content through a single data feed that is paired with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. The division’s legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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