Livi bank has selected Wolters Kluwer, American Dutch information services company, for its Regulatory Reporting solution to manage the bank’s regulatory reporting obligations.

livi had recently launched its virtual banking app to Hong Kong customers. The bank is backed by Bank of China Hong Kong (Holdings), Jingdong Digits Technology and the Jardine Matheson Group.

The solution combines bank data into a single source of data to ensure consistency, reconciliation and accuracy, and includes Wolters Kluwer’s Regulatory Update Service.

“We are delighted to be working with livi bank as it commences its operations to provide its innovative banking offering. We look forward to working with the bank, and our growing number of virtual banking clients across the region, as they embark on their banking journey with our OneSumX solution.”

commented Rainer Fuchsluger, Managing Director of Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) business for APAC.