Compliance Solutions | Wolters Kluwer
  • Managing Risk Throughout the Lending Lifecycle
    Managing Risk Throughout the Lending Lifecycle
  • Reg Change Article
    The case for regulatory change management
  • 2019 Risk Indicator
    Indicator Regulatory & Risk Management survey shows bank, credit union concerns remain high

OneSumX for Compliance Management

A comprehensive compliance toolbox for managing today’s global regulatory requirements.

An organization’s risks for non-compliance with regulatory requirements can result in legal sanctions, consent decrees, prosecution, liability suits, failed business strategies, and damage to reputation and brand. In extreme cases, non-compliance can threaten the existence of the organization. Compliance mandates can come from various regulatory bodies. Today’s financial services firms are under particular scrutiny from regulatory and enforcement agencies.

Compliance is not a revenue generating business function. However, it is a core component of managing enterprise risk and successfully executing business strategies. Hence, due to the extent of compliance demands, many organizations maintain large and growing compliance functions that increase their overall operational costs. The increasing number and complexity of regulations, continuing shortage of talent, and constant pressure from shareholders to reduce operating costs makes this a good time to consider Wolters Kluwer.
To be effective, compliance oversight of industry-specific regulations requires both knowledge of the regulatory requirements and associated expectations—and deep familiarity with the business context. Wolters Kluwer provides the expertise and technology required to move regulatory compliance up on the priority list. We help compliance report forward-looking compliance information that is explicitly relevant to strategy, including emerging compliance risks and trends—information that is of immediate strategic importance to the organization.

Working with Wolters Kluwer can enable financial organizations to improve allocation of resources; placing operational functions with a trusted partner who can execute them at high levels of quality, with responsiveness, cost-effective delivery models, and to free up internal resources for revenue-generating activities. While the organization remains responsible for compliance and any risks, OneSumX for Compliance can enable management to selectively employ a mix of internal and external resources to meet compliance demands.

Explore Insights

The Risks and Management of Algorithmic Bias in Fair Lending

(Published November 6, 2019) The use of alternative data for lending continues to grow. And Congress, regulatory agencies, community organizations and civil rights advocates will continue to focus on whether use of these technologies adversely impacts fair lending compliance. In this ABA Bank Compliance article, Britt Faircloth argues that banks must be prepared to assess and mitigate both new fair lending risks and existing risks that may evolve in new ways within the rapidly changing environment.

Yin-Yang: Creating Harmony Between Legal and Compliance

(Published October 31, 2019) Banks that struggle with harmony and balance between their Legal and Compliance departments may want to step back to consider approaches that can better align culture and values as an over-arching theme. In this ABA Bank Compliance article, Barbara Boccia offers insights on how these functions can collaborate more closely to benefit a bank’s overall regulatory compliance program.

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FATF evaluation underlines AML and CTF urgency for Chinese banks
 

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