Wolters Kluwer supplies regtech to CKV Spaarbank
CKV will use OneSumX for all national and European Banking Authority (EBA) reporting obligations (including FinRep and CoRep), and Analytical Credit Datasets (AnaCredit) – the European Central Bank project designed to set up a dataset containing detailed information on individual bank loans in the euro area, harmonised across all member states.
The bank will also implement OneSumX for Finance, for International Financial Reporting Standard (IFRS) 9 reporting, using the software’s amortised cost-calculation engine for compliance with the accounting standard.
“CKV required a solution not just for AnaCredit, but also more widely for our regulatory reporting obligations and IFRS 9,” explains Rudi Deruytter, CEO of CKV. “Wolters Kluwer was able to provide a truly integrated approach that matched our exacting requirements.”