About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

BBVA Compass Selects Wolters Kluwer’s OneSumX for US Regulatory Reporting

Subscribe to our newsletter

BBVA Compass, the US-based subsidiary of Spanish multinational banking group BBVA, in January announced its plans to implement the OneSumX solution from Wolters Kluwer to provide regulatory reporting software for its US operations.

BBVA Compass is headquartered in Birmingham, Alabama and has a major presence throughout the ‘Sunbelt’ region of the US, with total assets of more than $90bn.

OneSumX Regulatory Reporting uses a single source of data to ensure consistency, reconciliation and accuracy. The solution includes the firm’s Regulatory Update Service and provides active monitoring of regulation in around 30 countries worldwide. It addresses all US regulatory, FR Y-14, FR 2052a, liquidity and other reporting requirements and can be expanded or customized to account for shifts in the risk and compliance environment.

“As part of our ongoing strategy to build a leading franchise in the US we wanted to take a more strategic approach to compliance. This needed to be supported by an integrated, flexible platform capable of evolving in response to regulatory requirements and supporting broader business goals,” explains Chris Butler, Senior Vice President and Director of Financial Reporting at BBVA Compass.

A few days earlier on 23 January, Wolters Kluwer confirmed that Austrian bank Sparkassen- Prüfungsverband has also selected the OneSumX service for its mandatory audit reports and appendix to the reports (the so-called ‘Anlage zum Prüfbericht’). These yearly bank audits must be performed by the auditors for all banks in Austria.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Detecting and preventing market abuse

Market abuse – unlawful disclosure of inside information, insider trading, circular trading, “pump and dump” schemes, etc. – poses significant threats to the integrity of capital markets. In 2024, global trading house Trafigura agreed to pay a $55 million fine to the U.S. Commodity Futures Trading Commission (CFTC) for trading with non-public information, manipulating a...

BLOG

Data Readiness is No Longer Optional for Banks

By Stuart Harvey, Chief Executive of Datactics. In a landscape marked by increasing regulatory scrutiny and accelerating digital change, data has long since shed its role as a by-product of banking operations and is now a critical strategic asset. The speed at which institutions must demonstrate data integrity, quality, and accessibility has made compliance not...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...