Mizuho Taps Wolters Kluwer for Risk, Regulatory Reporting

Mizuho already uses Wolters Kluwer products in its operations across a number of European countries, and will also use OneSumX to perform capital adequacy calculations to comply with the upcoming Basel III regulation, as well as to produce financial reports in the XBRL (Extensible Business Reporting Language) standard for financial reporting and exchanging business information, as mandated by new requirements from the Dutch National Bank that institutions under its jurisdiction must submit reports in XBRL.

"Mizuho Bank needed a leading solution to ensure its regulatory obligations for the Netherlands, Belgium and Austria are managed comprehensively. Wolters Kluwer provides this. Especially now that the Dutch National Bank is changing its delivery protocol, we rely on [Wolters Kluwer's] expertise for our XBRL requirements," says Jens Pöhland, managing director and chief risk officer at ‎Mizuho Bank Nederland, in a statement.

Kris Van Bavel, managing director for Finance, Risk and Reporting in EMEA at Wolters Kluwer, says Mizuho's deployment of OneSumX is a validation of the vendor's understanding of the market and the comprehensiveness of its regulatory reporting solution.