Openlink, an ION Investment Group company and provider of trading, treasury and risk management solutions, has partnered with Municipality Finance (MuniFin) of Finland.
The company’s solution will enhance the institution’s straight-through processing (STP) capabilities and comprehensively manage risk across the organisation.
As Finland’s second largest credit institution, MuniFin is owned by the Finnish public sector, Finnish municipalities, the government of Finland, and Keva, a public sector pension fund.
MuniFin provides financing and financial risk management to support public housing, infrastructure, and other socially and environmentally sustainable investment targets.
The institution sought a solution that provides ‘customisable STP capabilities across multiple asset classes and can meet unique business requirements, which led it to Openlink.
Marjo Tomminen, executive vice president and chief financial officer of MuniFin, said, “MuniFin’s mission to provide competitive and timely financing for the Finnish public sector is based on overall operational excellence, how quickly and transparently we bring deals to closure, and a comprehensive view of risk.
“As we migrated to Openlink’s platform, we challenged ourselves to streamline and integrate our workflows. We also strengthened our foundation of deal data for improved analytics, reporting and compliance, and shifted to even higher value work that serves the evolving needs of our customers.”
Earlier this year, ION Investment Group, a trading and workflow automation software provider, acquired Openlink Financial.
Financial institutions Openlink’s trading and risk management technology to support their workflows their interest rates, credit, FX, equity, commodity and associated derivative products. Asset managers can manage risk across all market exposures and hedges, while central banking users can maximise security, market oversight, trading and control.
For compliance, Openlink stays at the ‘forefront of regulatory reforms’ by working closely with regulators, clearing houses, service providers and trade data repositories in order to carefully address regulatory challenges faced by customers.
The company also offers a full suite of market-leading solutions to help organisations comply and keep pace with changing regulatory reporting requirements, including collateral management, swaps data repository, hedge accounting, SDR reporting, OTC clearing workflows and more.
Prior to the ION purchase, Openlink partnered with business consultancy FWD View to help financial institutions adopt cloud-based solution. The pair’s partnership aims to realise the full benefits of cloud-based trading applications for FX and derivatives, as well as trade risk, analytics and reporting.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
