Nippon Wealth Limited Bank (NWB), a Hong Kong-based restricted licence bank, has selected Wolters Kluwer Financial Services’ OneSumX suite for anti-money laundering and regulatory reporting.
OneSumX is a platform that connects governance, finance, risk, and compliance, allowing for the multidisciplinary management of complex risks and issues.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The OneSumX AML solution has been designed to provide firms with comprehensive real-time monitoring of risks, presents real threats as they arise and provides firms with the ability to address those risks.
The regulatory reporting solution uses a single source of data to help ensure consistency, reconciliation and accuracy.
NWB, which has received restricted banking license application in April 2015 and started business in May 2015, is planning to obtain Type 1 and Type 4 licenses from the Securities and Futures Commission.
NWB chief technology officer Ryutaro Uehara said: "As we establish operations and as part of our commitment to excellence, we have to ensure the highest standards in the fields of AML and regulatory reporting. Accordingly, we chose a technology provider which is vastly experienced in providing expertise in these areas – Wolters Kluwer Financial Services."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
