Finance teams are at the forefront of data management and governance. According to a recent McKinsey study, the ability to deliver high-quality, consistent data is critical for banks to stay competitive.

The challenges of Finance Transformation for Banks

Modern banks face mounting challenges in managing financial operations. At the same time, the role of the CFO has expanded beyond traditional finance oversight. Today’s CFOs act as strategic advisors, helping to drive business growth while ensuring regulatory compliance. To succeed in this evolving landscape, CFOs need a banking accounting hub that centralizes data, automates processes, and enhances financial reporting.

Bank challenges


  • Meeting regulations is time-consuming with high compliance costs
  • Data delivery delays slow down financial close cycles
  • Fragmented systems create inconsistent, disconnected data.
  • Manual dependency leads to spreadsheet errors and inefficiencies

OneSumX for Finance


  • Centralized Banking Accounting
  • Hub Automated reconciliations
  • Real-time data visibility
  • Regulatory compliance – ready
Financial data dashboard

Transform your Bank’s finance operations with OneSumX

Discover how OneSumX for Finance empowers banks with centralized data, compliance tools, and future-proof financial banking software to simplify finance management and streamline operations.
Financial Transformation for Banks

What is OneSumX for Finance?

OneSumX for Finance is an advanced accounting and reporting solution tailored for banks and financial services.
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Features

Description
A centralized banking accounting hub Aggregate, validate, and enrich data in real time, reducing silos and ensuring data consistency.
Reduced accounting complexity Handle evolving regulatory and reporting requirements with ease.
Advanced Ledger A scalable and flexible ledger with real-time insights and detailed data access.
Automation Replace manual processes with automated journal entries, validations, and reconciliations.
Dynamic Reporting Meet IFRS, local GAAP, and other regulatory requirements with ease.
Consolidation Automate month-end closing processes for greater efficiency.
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Break free
from IFRS 9 workarounds
Future-proof IFRS 9 compliance for banks. Learn to automate workflows, streamline reporting, and ensure operational efficiency with our expert toolkit.
IFRS 9 Toolkit
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Is your IFRS 9 ECL solution up to standard?
Optimize your IFRS 9 ECL solution. Validate data accuracy, governance, and flexibility with our comprehensive healthcheck. Stay compliant with IFRS 9 for banks while managing credit risk effectively.
IFRS 9 Healthcheck

How OneSumX empowers CFOs

With OneSumX for Finance, your organization gains a best-in-class finance solution designed by experts for experts.

A single source of truth


All financial data in one centralized system
Eliminate reconciliation issues with a trusted, auditable data store

Granular insights at your fingertips


Drill down to the transaction level directly from the general ledger
Enable real-time decision-making with complete data transparency

Future-proofed operations


Stay ahead of new reporting requirements with a flexible and scalable framework
Adapt seamlessly to regulatory changes, mergers, and acquisitions

Faster financial close cycles


Automate reconciliations, validations, and corrections
Reduce closing cycles from weeks to days—or even intraday

Proven results: Case studies

See how advanced technology solutions such as automation, artificial intelligence (AI), and machine learning are instrumental in helping lenders optimize loan origination processes ― lowering risk and resulting in a faster, standardized approach.

Australia’s leading Bank saves 1.5M AUD annually

By reducing dependency on 140+ critical spreadsheets, this bank streamlined reconciliations and daily accounting. The result? Greater reporting accuracy, faster month-end processing, and actionable insights.
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Dutch Bank overcomes BCBS 239 challenges

This bank implemented daily transaction-level updates to enhance data accuracy and compliance. With flexible sourcing methods, they reduced compliance costs, improved audit trails, and seamlessly navigated mergers and acquisitions.
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Ready to transform your finance operations?

Let’s discuss how OneSumX for Finance can empower your finance team. Contact us today to schedule a meeting or demo.

  • No obligation. Talk to an expert about your specific business and implementation needs.

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