The Portuguese bank has chosen Finastra's treasury, risk
management and regulatory reporting solutions to support and
enhance its business
LONDON, June 16, 2020 /PRNewswire/ -- Caixa Geral de
Depósitos, the largest commercial bank in Portugal, has chosen Finastra to power its
end-to-end treasury and capital markets business. It has
selected Fusion Kondor, Fusion Risk and Regulatory Reporting as a
Service to support this front-to-back-to-risk transformation.
The bank's users will have access to automated and standardized
interfaces which will improve day-to-day operations and will
benefit from an enhanced user experience and better reporting
functionalities.
Caixa Geral de Depósitos offers a selection of corporate
services, including commercial banking, investment banking, asset
management, brokerage and venture capital. To keep up with market
trends and changing regulations, the bank was looking to transform
its current technology landscape to make it more user friendly and
more efficient. The chosen solution includes front-to-back
treasury, straight-through processing for all asset classes,
accurate pricing from the front office to risk, including
structured products, collateral management and regulatory cloud
reporting.
Fusion Kondor will standardize and integrate the bank's trading
and risk services, whilst Fusion Risk will manage its risk and
compliance functionalities. Regulatory Reporting as a Service will
enable the bank to manage its reporting in a more automated way,
whilst making sure it is keeping up to date with changing
regulations such as the European Market Infrastructure Regulation
(EMIR) and the Securities Financing Transaction Regulation
(SFTR).
José de Brito, Executive Board Member and CFO at Caixa Geral de
Depósitos, said, "Quality and customer service are the driving
forces behind our bank. With business growing, we were looking for
an innovative solution that would help us optimize our treasury
function whilst still ensuring a focus on our core commitments and
regulatory compliance. We spent a lot of time looking at different
market offerings but, in the end, Finastra was able to offer us a
solution that aligned closely to our vision and approach. Fusion
Kondor and Fusion Risk will enable us to drive innovation into our
operations, digitizing previously manual-intensive tasks to help us
manage risk and continue our growth. We also believe its open
architecture will ease development for us and are impressed with
the transparent approach to implementation. We're looking forward
to developing this relationship over the next years."
"Caixa Geral de Depósitos was seeking the best solutions to
optimize its treasury and capital markets functions, together with
a trustworthy partner to provide seamless integration and support,"
said Pedro Porfirio, Global Head of
Treasury and Capital Markets at Finastra. "The treasury, risk
management and regulatory reporting solutions chosen by the bank
will help support its targets for cloud enablement, digital
transformation and future growth as it seeks to expand to new
markets."
Finastra Global Services team is working with Caixa Geral de
Depósitos to deliver the services through the Fusion
Adopt best-practice implementation program. The bank has
chosen Finastra's recommended configuration and process models to
deliver the solution.
About Finastra
Finastra is building an open platform that accelerates
collaboration and innovation in financial services, creating better
experiences for people, businesses and communities. Supported by
the broadest and deepest portfolio of financial services software,
Finastra delivers this vitally important technology to financial
institutions of all sizes across the globe, including 90 of the
world's top 100 banks. Our open architecture approach brings
together a number of partners and innovators. Together we are
leading the way in which applications are written, deployed
and consumed in financial services to evolve with the
changing needs of customers. Learn more at finastra.com
For further information please contact:
Harriet Pickering
PR Manager, EMEA
T +44-(0)20-3320-5317
E harriet.pickering@finastra.com
Caroline Duff
Global Head of PR
T +44-(0)20-3320-5892
E caroline.duff@finastra.com
Corporate headquarters
4 Kingdom Street
Paddington
London W2 6BD
United Kingdom
T +44-20-3320-5000
finastra.com
Logo:
https://mma.prnewswire.com/media/967510/Finastra_Logo.jpg