Société Générale has deployed Finastra’s Fusion Risk Asset and Liability Management (ALM) and Fund Transfer Pricing (FTP) solutions.
The financial group has made the move to to streamline multiple solutions across the group, simplifying its infrastructure so that it can comply more efficiently with regulations including the Interest Rate Risk in the Banking Book, and also reduce costs.
Société Générale Group is already leveraging Finastra’s treasury and capital markets, lending, retail banking and trade finance software. However, its leadership team sought a solution to facilitate all ALM and FTP activities for the group retail banking entities in France.
The solutions are already live at Société Générale Banque De Détail France and Crédit du Nord, and European branches will follow in the coming months. The bank expects to roll out the solution globally in time.
Arnaud Picut, global head of risk practice at Finastra said, “Fusion Risk is an essential solution for Société Générale to eliminate the complexity around its resources and regulatory compliance.
“The addition of Fusion Risk to Société Générale’s portfolio is testament to our relationship with the bank and an incredibly significant deal for us which cements our strong relationship with one of the top banks in Europe. We’re looking forward to continuing our close collaboration with Société Générale, helping the bank improve its customer experience by streamlining its solutions, and in turn supporting business growth.”
The UK operations of the National Bank of Egypt is deploying Finastra’s Fusion Treasury and Fusion Risk solutions. The solutions will be tightly integrated with the bank’s existing Fusion Equation core banking system, with the aim of helping the bank to deliver a more ‘comprehensive and superior service’.
Finastra also recently launched its Open Banking Readiness Index, a framework for banks in the Asia-Pacific. It provides a framework for banks in the region to assess their capabilities and benchmark readiness against peers in the race towards Open Banking.
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