Investors Bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting

NEW YORK–(BUSINESS WIRE)–Investors Bank has chosen Wolters
Kluwer’s OneSumX for Regulatory Reporting
to provide its regulatory
reporting software. Investors Bank, which operates from its corporate
headquarters in Short Hills, New Jersey, has approximately $25.52
billion in assets and 151 branches located throughout New Jersey and New
York.

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.

“We wanted to take a more strategic approach when it came to our
regulatory reporting obligations and were searching for an integrated
platform, allowing for regulatory reporting automation. Wolters Kluwer
neatly provides this capability through OneSumX for Regulatory Reporting
and we are excited to be working on the roll out of the award winning
technology,” commented Sean Burke, Executive Vice President and Chief
Financial Officer at Investors Bank.

“As regulations evolve globally, data has become both an essential
currency and a pain point for financial institutions. Regulatory report
submissions involve more frequent, complex and granular data requests,
and require calculations that draw on multiple business functions across
finance, risk and treasury,” said Todd Lawrence, General Manager of
Wolters Kluwer’s Finance, Risk & Reporting (FRR) business in the
Americas. “OneSumX for Regulatory Reporting addresses US FR Y-14, FR
2052a, liquidity and other reporting requirements and can be also easily
expanded or customized to account for shifts in the risk and compliance
environment, effectively allowing for the automation of regulatory
reporting. We are delighted to be working with Investors on this
important project for the bank.”

Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk &
Compliance 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 FRR receives frequent independent recognition of its
excellence and innovation. In mid-2018, Risk
magazine awarded the company its coveted Regulatory Reporting System of
The Year Award
and Central
Banking
magazine recently named OneSumX for Regulatory Reporting its
Best Technology Solution For Regulatory Compliance
. Wolters Kluwer
FRR is also this year’s Category
Winner for Regulatory Reporting in the annual RiskTech100® report
.
This comprehensive study of the world’s leading risk and compliance
technology companies is compiled by Chartis Research. Notably, this is
the seventh time in eight years that Wolters Kluwer FRR has achieved
this honor. Chartis Research has also named the firm a Category Leader
in both its IFRS
9 Technology Solutions Report
and CECL
Report
.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance (GRC) 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, stay competitive 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 (AEX: WKL) is a global leader in information services and
solutions for professionals in the health, tax and accounting, risk and
compliance, finance and legal sectors. Wolters Kluwer reported 2018
annual revenues of €4.3 billion. The company, headquartered in Alphen
aan den Rijn, the Netherlands, serves customers in over 180 countries,
maintains operations in over 40 countries and employs 19,000 people
worldwide.

Contacts

Paul Lyon
Director of Global Corporate Communications, Banking &
Regulatory Compliance
Governance, Risk & Compliance
Wolters
Kluwer
Office +44 20 3197 6586
Paul.Lyon@wolterskluwer.com

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