Portuguese bank CGD deploys Wolters Kluwer’s OneSumX for capital requirements reporting

Rick Steves

“This deal represents a strategic win for FRR’s Portuguese team and showcases our position in the market. We continue to attract a wide range of clients in the country and throughout the region, and look forward to working with CGD’s team on the implementation of our market-leading regulatory reporting solution, OneSumX.”

Caixa Geral de Depósitos (CGD), the Portuguese state-owned and largest bank in Portugal, has deployed the regulatory reporting software from Wolters Kluwer.

Going by the name of OneSumX, the regulatory reporting solution combines bank data into a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service, which actively monitors regulation in 30 countries.

CGD will use the solution to help comply with the Capital Requirements under CRR/CRD Directives.

CGD to integrate a common reporting framework, capital requirements, and financial reporting

Hugo Verissimo Oliveira, CDO at CGD, said: “Wolters Kluwer provides the know-how and proven expertise to ensure a successful implementation. During the project, new processes 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.”

Kris Van Bavel, Managing Director of Wolters Kluwer FRR for the EMEA region, commented: “This deal represents a strategic win for FRR’s Portuguese team and showcases our position in the market. We continue to attract a wide range of clients in the country and throughout the region, and look forward to working with CGD’s team on the implementation of our market-leading regulatory reporting solution, OneSumX.”

Wolters Kluwer’s OneSumX for Regulatory Reporting solution was this year’s recipient of Risk.net’s prestigious Regulatory Reporting System of the Year award, having won it four times already. Wolters Kluwer reported 2021 annual revenues of €4.8 billion.

The group serves customers in over 180 countries and employs approximately 19,800 people across 40 countries, while headquartered in the Netherlands.

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