Caixa Geral de Depósitos taps Wolters Kluwer for regulatory compliance
Caixa Geral de Depósitos (CGD), the Portuguese state-owned banking corporation, has tapped Wolters Kluwer Finance for its risk and regulatory reporting solution OneSumX.
Caixa Geral de Depósitos taps Wolters Kluwer’s for OneSumX solution
OneSumX channels bank data into a single source of data, allowing for “consistency, reconciliation and accuracy”, Wolters Kluwer says. The service is maintained by Wolters Kluwer, which actively monitors regulation in 30 countries.
CGD, the largest bank in Portugal, will leverage the Finance, Risk & Regulatory Reporting (FRR) service from Wolters Kluwer to stay on top of domestic and international capital requirements, legislation and directives.
CGD chief data officer (CDO) Hugo Verissimo Oliveira says the solution “will enable data flow automation, enabling the bank to integrate a common reporting framework, capital requirements, and financial reporting, including the deployment of data integration”.
Wolters Kluwer FRR supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.
FRR falls under the Governance, Risk & Compliance 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.
