Taiwan Business Bank recently deployed Wolters Kluwer's OneSumX Regulatory Reporting solution in its Wuhan branch.
According to Wolters Kluwer, the solution is able to provide a full audit trail, user workflow management and data workflow management, As such, it will enable the bank to meet the China Banking Regulatory Commission's (CBRC) requirements for Basel III and Foreign Asset Liability regulatory reporting.
Besides the solution, the bank will also be using Wolters Kluwer's Regulatory Update Service, which is maintained by experts who actively monitor regulation in about 50 countries around the world to ensure that the solution is constantly relevant.
"We are pleased to deepen our relationship with Taiwan Business Bank as the firm expands in China. In today's evolving regulatory landscape, adopting a strategic solution to meet such changes is really essential. We are deeply committed to China and recognize the need to manage these vast changes in the financial industry with updated, scalable solutions," said Chris Puype, Managing Director, Asia Pacific, Wolters Kluwer Finance, Risk and Reporting.
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