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BBVA picks Wolters’ OneSumX for liquidity risk and regulatory reporting

BBVA’s UK subsidiary has chosen OneSumX from Wolters Kluwer to deliver a solution for its regulatory reporting and liquidity risk requirements.

OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance, increasing organizational profitability, efficiency and growth.

OneSumX Regulatory Reporting uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 50 countries, helping to ensure the solution is current at all times.

The OneSumX Liquidity Risk Management solution combines a risk management/stress engine and regulatory reporting platform which enables firms to monitor, manage and report liquidity risk.

BBVA production management in London head Marta Garcia said: “As a leading global bank BBVA needed a comprehensive solution to ensure its U.K. regulatory obligations and liquidity risk are managed optimally – Wolters Kluwer provides this.”

Other banks that have recently signed up to use OneSumX include Mizuho, BGFI, Taiwan Business Bank and Bank BGZ BNP Paribas.

Kris Van Bavel, managing director, EMEA, Finance, Risk and Reporting, for Wolters Kluwer said: “BBVA’s decision to use our liquidity risk and regulatory reporting software is another important validation of our leading position in the field.

“Our deep understanding of the markets enables us to provide clients like BBVA with comprehensive integrated risk and reporting solutions and we look forward to continuing our work with the bank.”