BCI Miami, the U.S branch of Chile'sBanco de Credito e Inversiones, has chosen Wolters Kluwer Finance, Risk & Regulatory Reporting to provide software for managing its financial reporting obligations for the Current Expected Credit Losses accounting standard. OneSumX CECL includes the ability to develop and build an expected credit loss model that needs to be run in multiple scenarios. It also includes Expected Credit Loss calculators that can work with expert judgment or macroeconomic scenarios and allow for re-usage of methodologies such as vintage or loss-rate methodologies as described by the standard.

Notably, OneSumX CECL allows for a combination of forward-looking term structures and support for calculation and subsequent accounting processing of credit-adjusted effective interest rate, amortized cost and effective interest for purchased or originated credit-impaired instruments. continue to provide banks throughout the region with access to a truly integrated finance, risk and reporting platform and look forward to working with BCI Miami on the implementation. Wolters Kluwer FRR, which is part of the company's Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions.

It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors. Wolters Kluwer's GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions' OneSumX(R) for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content through a single data feed that is paired with an easy-to-use software solution.

Compliance Solutions' iLien Motor Vehicle provides for the processing and management of motor vehicle titles and liens, helping solve the most unique and complicated challenges in title perfection. Thedivision's legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.