MUFG Europe has chosen Wolters Kluwer’s OneSumX software to manage a number of regulatory and risk reporting obligations for its Dutch and German business lines, including AnaCredit and Interest Rate Risk in The Banking Book (IRRBB).
MUFG is already a user of OneSumX for regulatory reporting and will now also use the firm’s AnaCredit solution.
The solution will enable MUFG to work with a faster processing time and a more flexible operational environment for end users.
AnaCredit is the European Central Bank project to set up a dataset containing detailed information on individual bank loans in the euro area, harmonised across all member states.
Sander van der Laan, executive director and head of MUFG Europe’s risk management division, said: “New requirements under AnaCredit and IRRBB are changing the frequency on which we report. As an existing customer of Wolters Kluwer, we were already aware of the benefits of its leading technology and it was a natural choice to extend our use of OneSumX to provide a suitably robust infrastructure for managing our obligations.”
