Gruppo Banco Popolare has selected CRISTAL for enhancing and consolidating liquidity management at group level.
CRISTAL will provide the bank with a single platform for real-time integrated monitoring of available assets against expected activities as well as control of outflows in respect of Basle III requirements for managing intraday liquidity.
Through the staged project approach that was defined by Gruppo Banco Popolare, CRISTAL will firstly consolidate liquidity management in euro and then in foreign currencies before supporting the impacts of securities settlement migration to TARGET2-Securities. In the meantime, CRISTAL will support reporting requirements under the Basle III "Monitoring tools for intraday liquidity management" regulatory framework.
In order to provide better implementation timeline, Gruppo Banco Popolare will also use Diamis' MPH Converter for managing conversions of legacy formats that are used for interfaces with the bank's information system.
Marco Urbani, Head of Cross-Border Payments and Settlement Systems at SGS BP said: "CRISTAL enters our global reform program for modernising and centralising the bank operational infrastructures. By selecting a proven software package, Gruppo Banco Popolare has both secured the transition and ensured long term compliance with regulatory requirements and state-of-the-art business practices. The new platform offers a sound basis for safer and optimised liquidity management. Beyond TARGET2-Securities, migration of High-Value Payment Systems to ISO20022 is already on track at Gruppo Banco Popolare."
Olivier Hache, General Manager of Diamis said: "On behalf of CRISTAL community of user banks, we are delighted to welcome Gruppo Banco Popolare, a key player in the Italian bank industry. For this project, Diamis invests in tailoring CRISTAL pan-European features to Italian-specific market practices. This success proves again the validity of CRISTAL concepts for globally addressing liquidity management of European banks as well as its flexibility to accommodate market-specific requirements."