Shanghai Commercial Bank Implements Wolters Kluwer OneSumX Solution for Basel Compliance and Risk Management

Shanghai Commercial Bank Implements Wolters Kluwer OneSumX Solution for Basel Compliance and Risk Management

(IN BRIEF) Shanghai Commercial Bank has successfully implemented Wolters Kluwer’s OneSumX solution to enhance its regulatory reporting, Basel III compliance, and risk management processes. The automated system streamlines operations and ensures compliance with the Hong Kong Monetary Authority’s guidelines. In the next phases, SCB will focus on automating reports and expanding its use of the platform for credit risk stress testing and granular data reporting.

(PRESS RELEASE) ALPHEN AAN DEN RIJN, 20-May-2025 — /EuropaWire/ — Wolters Kluwer Financial & Corporate Compliance is pleased to announce that Shanghai Commercial Bank (SCB) has successfully implemented the OneSumX solution suite, further advancing its Governance, Risk, and Compliance (GRC) initiative. This comprehensive platform improves Basel compliance, regulatory reporting, and risk management, creating a unified, automated system to streamline operations and enhance regulatory adherence.

Through the OneSumX platform, SCB is now fully compliant with Basel III requirements in Hong Kong, including the calculation of risk-weighted assets and regulatory reporting. By transitioning from manual processes to a more efficient, automated system, SCB has bolstered data governance, improved compliance with the Hong Kong Monetary Authority (HKMA) guidelines, and positioned itself to better manage the evolving regulatory landscape.

Jeroen Van Doorsselaere, Vice President of Global Product and Platform Management at Wolters Kluwer Finance, Risk & Regulatory Reporting, commented: “The successful deployment of OneSumX at Shanghai Commercial Bank underscores the value of an integrated regulatory and risk management platform. SCB’s methodical and incremental approach ensures they not only meet current compliance needs but also build a scalable foundation for future regulatory challenges.”

Wendy Li-chien Weng, Executive Vice President & Chief Financial Controller at Shanghai Commercial Bank, added: “We selected Wolters Kluwer due to its trusted solutions, already used by more than 800 banks globally, and its deep understanding of HKMA regulations. OneSumX enhances our regulatory reporting and risk management capabilities, reinforcing our commitment to maintaining the highest standards of excellence.”

Looking ahead, SCB plans to expand its use of OneSumX by incorporating credit risk stress testing into its risk management processes. The next phases will focus on automating HKMA reports and granular data reporting (GDR), continuing the bank’s commitment to operational efficiency and compliance excellence.

OneSumX for Basel is a fully integrated, modular platform designed to ensure global compliance with Basel reforms. It delivers seamless risk and capital management, offering full traceability, scenario-based projections, and end-to-end integration. This solution provides unparalleled accuracy, efficiency, and regulatory confidence within a single, scalable framework.

Founded in 1950, Shanghai Commercial Bank is a leading Chinese bank offering a comprehensive range of banking services across its 50 branches in Hong Kong, mainland China, the United Kingdom, and the United States.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Media Contact:

David Feider
Associate Director, External Communications
Financial & Corporate Compliance
david.feider@wolterskluwer.com
+1 (612) 246-9454

SOURCE: Wolters Kluwer N.V