20 October 2017
Find out more

Finastra to support Banco de Mexico with FusionRisk

23 June 2017  |  2474 views  |  0 Source: Finastra

Mexico’s central bank, Banco de Mexico, has selected Finastra to transform its legacy risk management platform. The central bank expects to deploy FusionRisk with the goal of enabling faster, more sophisticated risk analysis as ever-changing and volatile markets add new layers of complexity to effective risk management for Mexico’s financial system.

In evaluating various risk management solutions, Banco de Mexico found that FusionRisk from Finastra best suited its needs for a dynamic system capable of bringing greater speed and efficiency to risk management and reporting in a time of increasing global uncertainty.

The heightened profile of Mexico in world politics, coupled with events such as Brexit and the US election, places the region firmly on the world’s stage. Central bank activity and the ability to analyze and understand the financial impact of recent market events have become even more crucial. The growing size and complexity of the Mexican financial system highlighted Banco de Mexico’s need to advance its legacy risk management system.

Daily analysis of exposures, including scenario simulations, is an essential task to ensure financial and economic stability. The implementation of FusionRisk will help the central bank address stability concerns, reducing the time it takes to calculate daily value at risk (VAR).

“The role of central banks in analyzing, detecting and preventing high risk events impacting their country’s financial system is vital,” said Nadeem Syed, CEO at Finastra. “It takes powerful and reliable technology to tackle these challenges and create an environment where fast and sophisticated risk analysis becomes par for the course. We are well placed to support the needs of Banco de Mexico as it works to transform its architecture and safeguard the Latin America region with a next-generation risk infrastructure.”

FusionRisk uses a “top down” approach to risk management that provides an entity-, subsidiary- and trader-level view of exposures, along with sophisticated analytics, to help banks meet the rising demands of regulators, shareholders and boards for transparency. Working alongside existing IT investments, FusionRisk helps institutions focus more on cost control and productivity gains.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.capgemini.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16069 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8286 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7864 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7278 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6630 views comments | 10 tweets | 21 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job