Wolters Kluwer FRR earns approved vendor status for Singapore’s SME GoDigital programme

KUALA LUMPUR, Oct 28 -- Wolters Kluwer’s Finance, Risk & Regulatory Reporting (FRR) business has been chosen as an approved vendor for the SME GoDigital programme, operated by Infocomm Media Development Association (IMDA).

IMDA supports small and medium-sized enterprises (SMEs) in their efforts to adopt digital technologies to seize growth opportunities and streamline their operations, according to a statement.

“We look forward to working with the qualifying financial institutions, IMDA and the regulators to encourage Singapore’s banking sector to adopt cloud strategies,” said Wolters Kluwer FRR, APAC Managing Director, Rainer Fuchsluger.

The SME Go Digital initiative enables institutions operating in Singapore to receive a grant to cover the implementation costs of adopting a pre-approved solution, with over 20,000 SMEs having adopted digital solutions from the programme since its launch in 2017.

In association with The Monetary Authority of Singapore, IMDA is rolling out the GoDigital programme for the Financial sector, while Wolters Kluwer FRR has been accorded pre-approved vendor status for its market-leading OneSumX for Regulatory Reporting SaaS solution.

The OneSumX for Regulatory Reporting SaaS solution includes an updated OneSumX Regulatory Engine characterised by its enhanced performance, better user experience, automation and scalability functionalities.

The SaaS solution, like the OneSumX for Regulatory Reporting on-premise solution, combines bank data into a single source of data to ensure consistency, ease of reconciliation and accuracy.

Wolters Kluwer FRR, a part of Wolters Kluwer’s Governance, Risk & Compliance division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions.

-- BERNAMA