Wolters Kluwer N.V. announced that The Bank of East Asia, Limited has chosen to implement award-winning regulatory reporting software from Wolters Kluwer Finance, Risk & Regulatory Reporting. OneSumX for Regulatory Reporting combines bank data into a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer's Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries.

BEA will specifically use the software to aid its automation of Hong Kong Monetary Authority (HKMA) banking returns and GDR (Granular Data Reporting) reports. The OneSumX solution suite, along with the company's Professional Services offerings in the region, has recently won a number of APAC focused awards, which follow a record 2021 when it comes to industry recognition for the business with prestigious accolades from the likes of Regulation Asia and RegTech Insights. 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® 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. The division's legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.