Wolters Kluwer Signs Latest OneSumX For Risk Management Client

Xelidoni has chosen to implement award-winning software from Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), having selected the company’s OneSumX for Risk Management solution. In other Wolters Kluwer news, Moody’s, the rating agency, has upgraded the company’s senior unsecured ratings.

Xelidoni uses blockchain technology to create a more efficient house rental process and address the issues associated with current rent deposit models. Its business model enables tenants to earn interest income on their deposit and streamline administrative processes for a faster, more secure, and convenient rental experience. Wolters Kluwer says OneSumX for Risk Management ”gives banks and financial institutions advanced ways to measure, mitigate and manage financial and regulatory risk, featuring a fully scalable, dedicated data management platform that provides analytics and reporting with speed and accuracy.”

“Xelidoni uses smart contracts to connect to our rental agency customers’ Customer Relationship Management (CRM) systems,” said Joana Morais, Founder and CEO of Xelidoni, in a statement. “We were looking for a strong, industry-recognized risk management solution to support our model, helping ensure that the data transfers between those agencies and Xelidoni are extremely fast and secured. With its industry-leading technology, Wolters Kluwer provides us a superior level of capabilities and domain expertise, enabling us to leverage the benefits of the blockchain and generate interest income to reward our clients’ tenants.”

Wolters Kluwer FRR, which is part of the company’s Corporate Performance & ESG division (CP & ESG), 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.

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In other news, Wolters Kluwer has been upgraded by credit rating agency Moody’s which said the upgrade of Wolters Kluwer N.V.’s senior unsecured ratings to A3 from B aa1 reflects “a track record in maintaining a conservative financial policy, its resilience to economic cycles because of its diversified portfolio of products and the mostly digital and recurring nature of its revenue (approximately 80% of total revenues), and the flexibility provided by its strong free cash flow generation.”

The rating agency also noted that “governance considerations as per Moody’s ESG framework were one of the key drivers for the rating action as the upgrade has considered Wolters Kluwer’s predictable and conservative financial strategy and risk management, and its successful track record executing the strategy.”

Last month Wolters Kluwer announced the creation its fifth division, CP & ESG. As previously reported, the division was “established to meet the growing demand from corporations and banks for integrated financial, operational, and ESG performance management and reporting solutions.”

CP & ESG brings together Wolters Kluwer’s global software businesses that focus on corporate performance management, environmental health and safety (EHS), and risk: (CCH Tagetik, Enablon, FRR, and TeamMate). “By leveraging the natural synergy that exists across these businesses, the company will be able to better serve its customers and drive accelerated growth by extending and integrating its current product portfolio,” a London-based company spokesperson said at the time.