SYDNEY: Toyota Finance Australia has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting as its regulatory reporting software, in order to meet the regulatory reporting requirements of the Australian Prudential Regulation Authority (APRA).

OneSumX for Regulatory Reporting combines bank data into a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in 30 countries.

“After careful examination of all the options available to us, we opted to use Wolters Kluwer due to its award-winning technology, content rich regulatory offering and the platform’s add on features,” commented Jehad Hawli, Finance Systems Manager at Toyota Finance Australia.

“Meeting APRA requirements is vital and so it’s equally important to have the experts in the regulatory reporting field provide the technological know-how,” added Pasquale Guerrera, CFO at Toyota Finance Australia.

“We are delighted that Toyota has chosen to implement our OneSumX regulatory software,” said Rainer Fuchsluger, Managing Director of Wolters Kluwer’s Finance, Risk & Regulatory Reporting (FRR) business in APAC. “We continue to attract a wide range of financial services clients across Australia and beyond and look forward to working with Toyota’s team on this important project.”

Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.