Wolters Kluwer's regulatory reporting platform

At a glance
Wolters Kluwer and Thought Machine have partnered to bring a best-in-class integrated solution suite to ensure banks have the systems and processes in place to comply with regulatory requirements and upcoming deadlines
Solution category
Data and Risk
Built by
Wolters Kluwer

The challenge

Banks and financial institutions today have an unprecedented challenge in their digital transformation journey: creating a future-proof business in the cloud, away from the legacy IT infrastructure they have today. 

In addition to this, regulators are now focusing more on obtaining meaningful data assurance versus receiving static reports submitted by firms. The new rules mean more statutory and regulatory limits for firms to adhere to. As regulatory policy initiatives continue to evolve in jurisdictions around the globe, the volume, frequency and complexity of reporting that firms need to complete is increasing.

The solution

Wolters Kluwer and Thought Machine together combine Vault Core and OneSumX to provide a best-in-class integrated solution suite for finance, risk, regulatory compliance and reporting. 

The integration service, built by Thought Machine, passes real-time data from Vault Core to OneSumX, which can handle the speed, flexibility and scalability needed to process large volumes of data for new data-driven regulatory regimes globally. 


Flexible deployment 

Both Thought Machine’s Vault Core and Wolters Kluwer’s OneSumX platform support multiple deployment options from SaaS to on-premise.

A global solution 

The integration focuses on US retail lending regulatory reports, but also accelerates the process of building compliance across many jurisdictions and countries. Wolters Kluwer has subject matter expertise and actively monitors and analyses regulatory change in 30 countries worldwide.

Scalable processing for large data volumes

Thought Machine selected Wolters Kluwer for this partnership due to the superior configuration and processing capability of OneSumX. Its grid and in-memory computing technology helps keep banks running at peak efficiency, while Vault Core’s microservices architecture gives banks an elastic, highly available and flexible core banking system. 

  A single platform approach to increase consistency and collaboration 

Authorities are demanding greater alignment and consistency in regulatory filings, which have traditionally been siloed across finance, risk and reporting. Thought Machine’s partnership with Wolters Kluwer combines a single core banking platform that can manage any banking product with an agile reporting platform, making it much easier to manage complex requirements. 

How the solution works

This integration enables Vault Core to feed customer and account-related data to the Wolters Kluwer OneSumX Regulatory Reporting platform to generate the periodic reports required by the US regulators, such as the Federal Financial Institution Examination Council or the Federal Reserve.

The solution is focused on a retail lending use cases, but can accelerate other use cases clients may have by providing the general framework clients can build upon or extend in the future, according to their own unique regulatory requirements. 

The integration service provided by Thought Machine is responsible for:

Consumption of the Kafka events streamed from Vault Core that pertain to:

  1. Account creation
  2. Account updates
  3. Account balance updates

Transformation of the events 

  1. Insertion of the resulting records into the Wolters Kluwer staging database
  2. Running the reconciliation process

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