Wolters Kluwer Powers Afin Bank’s SaaS-Based Regulatory Reporting and Risk Management Capabilities

Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) announces that Afin Bank has successfully gone live with OneSumX for Regulatory Reporting. The initial phase of the engagement provides last-mile regulatory reporting for COREP, FINREP, BEEDS (Bank of England Statistical Reporting), and PRA 110 to ensure accurate, timely submissions delivered via a flexible, cloud-based SaaS model.

Future phases will include the deployment of comprehensive regulatory calculations, automated data mapping, and a robust cashflow engine to support broader IRRBB, liquidity risk, and asset liability management needs.

“Afin Bank is a powerful example of how innovation and inclusion can go hand in hand,” said Dean Sonderegger, Senior Vice President and General Manager, Wolters Kluwer FRR. “By combining immediate compliance capability with a platform designed to grow with it, Afin Bank can focus on its mission while staying ahead of evolving regulatory demands.”

Afin Bank is a UK-based digital bank committed to providing accessible financial services to underserved customers, such as diaspora communities in the UK and self-employed borrowers. With a focus on transparency, simplicity and inclusion, Afin Bank offers mortgage and savings products designed for those often poorly served by mainstream banks.

Sonderegger noted that OneSumX is “ideally suited” to the needs of new market entrants like Afin Bank and was chosen for its modular design, among other functional advantages.

“It offers the ability to start with targeted capabilities and expand seamlessly over time,” he noted, citing the close collaboration of Wolters Kluwer’s professional services team with Lorraine Shalley, Head of Treasury and Regulatory Reporting at Afin Bank, and the bank’s finance team, to ensure the solution was configured to its exact requirements, delivering a smooth and timely go-live.

“Wolters Kluwer’s OneSumX solution is flexible, scalable and robust,” said Charles Resnick, CFO of Afin Bank. “Its expertise and professionalism gave us complete confidence that we were making the right decision for our business, both for today and for the long-term.”

“The regulatory and ALM functionality provides Afin Bank with the tools it needs now and as the bank grows, allowing us to focus on helping to drive the performance of the business,” added Shalley.

Wolters Kluwer Finance, Risk and Regulatory Reporting (FRR) is part of the Wolters Kluwer Financial & Corporate Compliance (FCC) division, which provides a wide range of technology-enabled lending, regulatory and investment compliance solutions, corporate services, and legal entity compliance solutions.