Chinese bank upgrades regulatory reporting tech
Written by Anthony Strzalek
China Everbright Bank (CEB) has chosen regulatory reporting software from Wolters Kluwer which will be used for the bank’s operations in Luxembourg.
CEB will utilise Wolters Kluwer’s OneSumX Regulatory Reporting solution, which uses a single source of data to ensure consistency, reconciliation and accuracy and includes the firm’s regulatory update service. This service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 50 countries, helping to ensure the solution is current at all times.
CEB was established in August 1992 and is headquartered in Beijing, as a national joint-stock commercial bank approved by the State Council of China and the People’s Bank of China. The bank was listed on the Shanghai Stock Exchange in August 2010 and the Hong Kong Stock Exchange in December 2013.
Other major financial services providers that have recently announced their use of Wolters Kluwer include LGT, Nordea, BBVA, CIBC, Australia’s Queensland Treasury Corporation and The Swedish Export Credit Corporation.