Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) has successfully implemented its OneSumX platform for Afin Bank, enabling last-mile regulatory reporting for COREP, FINREP, BEEDS, and PRA 110 via a cloud-based SaaS model. This milestone, announced on September 3, 2025, supports Afin Bank’s mission to serve underserved communities while ensuring compliance and scalability.
Afin Bank goes live with Wolters Kluwer’s OneSumX for regulatory reporting.
Supports COREP, FINREP, BEEDS, and PRA 110 with a cloud-based SaaS model.
Future phases to include regulatory calculations, data mapping, and cashflow engine.
Afin Bank targets diaspora communities and self-employed borrowers in the UK.
OneSumX praised for flexibility, scalability, and modular design.
Collaboration ensures compliance and supports Afin Bank’s growth.
Wolters Kluwer FRR announced that Afin Bank, a UK-based digital bank, has successfully deployed OneSumX for Regulatory Reporting. The initial phase delivers accurate, timely submissions for COREP (Common Reporting), FINREP (Financial Reporting), BEEDS (Bank of England Statistical Reporting), and PRA 110 (liquidity reporting) through a flexible, cloud-based Software-as-a-Service (SaaS) model. This implementation supports Afin Bank’s focus on transparency and inclusion, serving underserved groups like diaspora communities and self-employed borrowers with mortgage and savings products.
OneSumX’s modular design is “ideally suited” for new market entrants like Afin Bank, according to Dean Sonderegger, Senior Vice President and General Manager of Wolters Kluwer FRR. “It offers the ability to start with targeted capabilities and expand seamlessly over time,” he said. The platform’s flexibility and scalability were key factors in its selection, with close collaboration between Wolters Kluwer’s professional services team and Afin Bank’s finance team, led by Lorraine Shalley, Head of Treasury and Regulatory Reporting, ensuring a tailored, 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.” Lorraine Shalley added, “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.”
Future phases of the partnership will enhance OneSumX with comprehensive regulatory calculations, automated data mapping, and a robust cashflow engine to support interest rate risk in the banking book (IRRBB), liquidity risk, and asset-liability management (ALM). These additions will further streamline Afin Bank’s operations and compliance, enabling focus on its mission-driven growth.
Afin Bank’s adoption of OneSumX aligns with the growing demand for scalable, cloud-based regulatory solutions in the $1.2 trillion global digital banking market. OneSumX’s ability to handle complex reporting requirements like COREP and FINREP, alongside UK-specific PRA 110, positions it as a leader against competitors like Adenza and Murex. The platform’s Regulatory Update Service ensures ongoing alignment with evolving regulations, critical in the post-Brexit UK landscape.
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. Its Financial & Corporate Compliance (FCC) division, including FRR, provides technology-enabled solutions for lending, regulatory, and investment compliance. With $6.2 billion in 2024 revenue, Wolters Kluwer supports clients in over 180 countries. Learn more at wolterskluwer.com.
Afin Bank is a UK-based digital bank committed to providing accessible financial services to underserved customers, such as diaspora communities and self-employed borrowers. With a focus on transparency, simplicity, and inclusion, it offers mortgage and savings products designed for those often overlooked by mainstream banks.
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