SINGAPORE–(BUSINESS WIRE)–Wolters Kluwer Finance, risk and regulatory reporting (FRR) participates in a virtual round table, “How can banks remain competitive despite tougher regulations?to examine ways in which banks in Southeast Asia can adapt more quickly to the growing challenges they face from new-era competitors such as digital banks and a rapidly changing technology ecosystem. The webinar will feature Wolters Kluwer FRR Subbaiyan VaithinathanDirector, Regulatory Reporting & AML, APAC, and will take place on Wednesday, May 18 from 11 a.m. to 12 p.m. SGT.
Vaitchinathan will be joined by Irene Liu, Director of Governance and Reporting, Union Digital Bank; and Suen SimHead of Regulatory Compliance, Mox Bank, in a session moderated by Vincent FongChief Editor, Fintech News in Asia.
Traditional banks in Southeast Asia have arguably been relatively slow to respond to new customer demands in an environment of heightened competition from the emergence of non-traditional banks, as well as the challenges that the COVID-19 pandemic 19 has brought, further accelerating market demand for digital banking services. At the same time, regulators in Southeast Asia are tightening their compliance frameworks due to the growth of financial services, making the regulatory system more complex than ever.
All of these factors require all banks, established or digital, to be more effective in their regulatory compliance practices, while ensuring that their core and new businesses can withstand financial and operational risk exposures. The panel will explore approaches for more effective regulatory reporting and risk management capabilities, providing a blueprint for transforming banks’ data architecture and automated systems.
Wolters Kluwer FRR, which is part of the group Governance, Risks and Compliance (GRC), is a global market leader in providing integrated regulatory compliance and reporting solutions. These solutions help regulated financial institutions meet their obligations to external regulators and their own boards.
Wolters Kluwer’s GRC division provides a range of expert solutions to help financial institutions manage regulatory obligations and risk. FRR by Wolters Kluwer OneSumX for Regulatory Reporting combines banking data into a single data source to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s regulatory update service. Wolters Kluwer Compliance Solutions OneSumX® for regulatory change management The solution, on the other hand, tracks regulatory changes and organizes them to create value-added structured content through a single data feed combined with an easy-to-use software solution. The division’s legal solutions activities are Company Wolters Kluwer CT and Wolters Kluwer ELM Solutions.
About Wolters Kluwer Governance, Risk and Compliance
Governance, Risks and Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency and drive better business results. GRC offers a portfolio of expert technology services and solutions focused on Legal Entity Compliance, Legal Operations Management, Banking Product Compliance and Banking Regulatory Compliance.
Wolters Kluwer (WKL) is a global leader in professional information, software solutions and services for healthcare; taxation and accounting; governance, risk and compliance; and the legal and regulatory sectors. We help our customers make critical decisions every day by delivering expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer achieved annual sales of €4.8 billion in 2021. The group serves customers in over 180 countries, maintains operations in over 40 countries and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.