Private banking and asset management group LGT has chosen Wolters Kluwer’s OneSumX to provide the regulatory reporting and risk software for its Asian operations.
According to Wolters Kluwer, OneSumX Regulatory Reporting uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s Regulatory Update Service.
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The firm’s experts monitor regulation in approximately 50 countries, helping to ensure the solution is current at all times.
LGT will use the Regulatory Reporting functionality in Singapore and Hong Kong, while the OneSumX Financial Risk Management for the calculation of risk ratios for capital adequacy reporting (CAR) will be used in Singapore.
Daniel Marxer, manager at LGT, said: “LGT needed to find the best possible solution to comply with our regulatory and risk obligations in Asia.”
“After carefully evaluating all the options on offer, we are confident that Wolters Kluwer, with its considerable expertise in risk and regulatory reporting in the region, will provide us with the best possible end-to-end solution.”
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