Nippon Wealth Signs For Wolters Kluwer OneSumX
Wolters Kluwer Financial Services has signed Nippon Wealth Limited, a Restricted License Bank (NWB) as a user of OneSumX.
The restricted license bank, based in Hong Kong and focused on Asia and Japan, will specifically use the solution for anti-money laundering (AML) and regulatory reporting, as it establishes its operations. The news follows a series of client win announcements from the risk and regulatory technology firm. It has, for example, also recently signed permanent TSB, Banca Monte Paschi Belgio, Bank of Tokyo Mitsubishi UFJ (Holland) and Israel Discount Bank.
OneSumX is a suite of solutions that connects governance, finance, risk, and compliance, allowing for the multidisciplinary management of complex risks and issues. The OneSumX AML solution, developed to provide firms with comprehensive real-time monitoring of risks, presents real threats as they arise and provides firms with the ability to address those risks in the most efficient manner. The OneSumX Regulatory Reporting solution, meanwhile, uses a single source of data to help ensure consistency, reconciliation and accuracy.
“We established NWB in August 2013 with a mission to provide clients with comprehensive wealth management services. Notably, we recently acquired approval from the Hong Kong Monetary Authority to establish a restricted license bank. As we establish operations and as part of our commitment to excellence, we have to ensure the highest standards in the fields of AML and regulatory reporting. Accordingly, we chose a technology provider which is vastly experienced in providing expertise in these areas – Wolters Kluwer Financial Services,” said Mr. Ryutaro Uehara, Chief Technology Officer at NWB.
Following the approval of NWB’s restricted banking license application in April 2015, the firm plans to acquire Type 1 and Type 4 licenses from the Securities and Futures Commission. Having commenced business in May 2015, NWB used the Wolters Kluwer Financial Services OneSumX solution for regulatory reporting and AML oversight.
“Our Asia Pacific business is witnessing impressive growth, thanks to our expertise and breadth of reach in the region. We are, of course, delighted to be working with NWB at this important point in its history,” commented Mr. Chris Puype, managing director for Asia Pacific at Wolters Kluwer Financial Services.
Charles River Expands Asia-Pacific Operations With New Tokyo Office
Front- and middle-office investment management solution provider, Charles River, has relocated to a new office in Tokyo to support continued growth in the Japanese market and meet increased client demand for the Charles River Investment Management Solution (Charles River IMS) delivered as a hosted service.
“Charles River has provided clients in Japan with on-the-ground support since 2007,” said Cameron Field, Managing Director Asia-Pacific for Charles River. “Our new, expanded office is in direct response to growing market demand for the full breadth of our service offerings. We’ve significantly increased our staff of local sales and managed services experts, and our new premises in the heart of Tokyo’s financial district puts all our teams as close to clients as possible.”
Charles River serves 138 client sites in Asia-Pacific across 14 countries. In addition to Tokyo, Charles River has regional headquarters in Melbourne and offices in Beijing, Hong Kong and Singapore.
