SINGAPORE--(BUSINESS WIRE)--Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) is participating in a virtual panel discussion, “How Can Banks Stay Competitive Despite Tightening Regulations?” to look at ways that banks in Southeast Asia can more quickly adapt to increasing challenges they face from new age competitors such as digital banks and a rapidly evolving technology ecosystem. The webinar will feature Wolters Kluwer FRR’s Subbaiyan Vaithinathan, Director, Regulatory Reporting & AML, APAC, and takes place Wednesday, May 18 from 11 am - 12 pm SGT.
Vaithinathan will be joined by Irene Liu, Chief Governance and Reporting Officer, Union Digital Bank; and Suen Sim, Lead for Regulatory Compliance, Mox Bank, in a session that will be moderated by Vincent Fong, Chief Editor, Fintech News in Asia.
Traditional banks in Southeast Asia have arguably been relatively slow in meeting newer customer demands in an environment of stiffening competition from the emergence of non-traditional banks, along with the challenges that the COVID-19 pandemic have brought, which has further accelerated 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 these factors are requiring all banks—established or digital—to be more efficient 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 efficient 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 company’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. These solutions support regulated financial institutions in meeting their obligations to external regulators and their own boards of directors.
Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer FRR’s 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. Wolters Kluwer Compliance Solutions’ OneSumX® for Regulatory Change Management solution, meanwhile, 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. The division’s legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert 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 the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2021 annual revenues of €4.8 billion. 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.
