Finastra today announced that Arkéa Banking Services, a subsidiary of Crédit Mutuel Arkéa and a major player in the provision of banking and insurance services in France, has selected Finastra’s Fusion Risk solution to help streamline operational processes and reduce operational costs for local banks.
The move sees Arkéa Banking Services providing Business Process Outsourcing (BPO) services for banks’ IT and risk management activities with Finastra’s Fusion Risk. The Arkéa service is already in use at one bank in France and has now been taken up by a new retail bank in region.
The Arkéa Banking Services team will use the Asset Liability Management (ALM), Funds Transfer Pricing (FTP), and Regulatory Compliance including Liquidity Risk Engine and Reporting modules of Finastra’s Fusion Risk to help local banks meet regulatory demands and to provide powerful analytics and insights to optimize business performance. This includes both day-to-day operational oversight and long-term strategic business planning.
“Fusion Risk is a proven solution, and one that Crédit Mutuel Arkéa already uses to support its internal needs, so we are very confident about using it as part of the hosting and outsourcing operations we provide,” said Marc Chereau, Head of IT at Arkéa. “Finastra’s Fusion Risk offers both functional and technical excellence. As well as using the solution to manage risk, margin monitoring, balance sheet optimization and regulatory reporting, Fusion Risk will also support us in managing other banks’ technical operations, ensuring the highest standards of security, resiliency, performance and operating excellence.”
“Local financial institutions will benefit from Arkéa's experience and technical expertise in retail and corporate banking and risk management, supported by the proven capabilities and powerful analytics of Fusion Risk, helping them to transform operations and enhance business performance,” said Arnaud Picut, Global Head of Risk at Finastra. “We’re delighted to work with the Arkéa Banking Services team and to provide technology solutions that support the pivotal role they play in supporting financial institutions, insurers and fintechs in France.”