Permanent tsb has adopted Wolters Kluwer Financial Services’s OneSumX regulatory reporting solution to help with implementing Basel III requirements across Ireland.
Ireland based institution permanent tsb will use the solution to address its statutory, prudential, transactional and statistical requirements both on a local and global scale.
The solution is a part of the OneSumX for Compliance solution, and uses a single source of data to ensure consistency, reconciliation and accuracy. It should help permanent tsb to meet the reporting directives of the Central Bank of Ireland, while also addressing the Common Reporting and Financial Reporting requirements outlined under the Capital Requirements Directive IV.
Clive Pedder, managing director for Europe, the Middle East and Africa at Wolters Kluwer Financial Services, said: “In today’s regulatory environment, financial institutions are confronted by more assertive and aggressive regulators and wider and more intrusive reporting requirements.”
He added: “We are pleased that permanent tsb has recognised our continued commitment to developing solutions that meet our customers’ most challenging needs.”
Declan Norgrove, head of finance, corporate development and non-core at permanent tsb, said: “We chose the solution offered by Wolters Kluwer Financial Services as it meets our criteria for satisfying our reporting requirements.”
