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’.
James Pinnington, head of capital markets & investment management, Northern Europe, Finastra, said: “A joined-up approach that fully integrates the treasury, risk management and regulatory functions at the heart of the bank’s operations is essential. We are helping the bank make this a reality so that it can service its customers in the very best way.”
Together, the solutions facilitate accurate, real-time data management – providing a holistic view of risk across the bank. They also help to promote dynamic decision making based on seamless management of trading, risk, liquidity, and profitability data, according to Finastra. Increased automation and the removal of manual processes will also help reduce operational risk and deliver streamlined regulatory reporting.
“Finastra has a tightly integrated, best-in-suite product range that’s ideally suited to supporting our treasury and risk management operations,” said Yasser Ibrahim, CEO and managing director at National Bank of Egypt (UK) Limited.
“It was important that we could deploy a solution that integrates easily with our existing core banking system, that is cost-effective, and also scalable to grow with our needs in the future. During the vendor selection process, Finastra was able to demonstrate all these capabilities and the collaboration between Finastra and our in-house team is very strong. This will be essential as we roll out the new functionality across the bank over coming months.”
Formed in 2017 by the combination of Misys and D+H, Finastra builds and deploys technology on its open Fusion software architecture and cloud ecosystem. With a global footprint and the broadest set of financial software solutions available on the market, Finastra has $2.1 billion in revenues, 10,000 employees and over 9,000 customers, including 48 of the top 50 banks globally.
Its Fusion Risk solution is designed to evolve with changing markets and regulatory demands according to its website. Using a big data approach, it claims that analysis, drilldown, and reporting are made simple from one intuitive dashboard. Its de-coupled architecture creates opportunities for smaller, more incremental software updates that minimise disruption, while its open standards connectivity allows for seamless integration with existing infrastructure.
Finastra’s Fusion Treasury offers comprehensive scenario analysis and a unique interface, which brings liquidity, risk, and profitability together in one screen. Its to offer an inclusive end-to-end eFX trading solution across distribution, position-keeping, post-trade and payments with SeamlessFX. Calculation engine enables key analytic measures such as liquidity and IRR gaps, NPV, sensitivities, FTP and margin analysis, and at-risk measures including VaR, EaR, and ES.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
