Murex clinches 3 IBSi Digital Banking Awards for collaborations with D360 Bank and Kakaobank

By Gloria Methri

Murex, a specialist in trading, risk, and treasury solutions, has been recognised with three distinctions at the IBSi Digital Banking Awards. The awards celebrate Murex’s impactful partnerships with Saudi Arabia’s D360 Bank and South Korea’s Kakaobank, two digital-native institutions that leverage the firm’s MXGO treasury platform.

The accolades span categories including Islamic Banking, Treasury, and Implementation Excellence, reflecting Murex’s growing relevance among digital-only banks, neo-challenger institutions, digital NBFCs, and FinTech-forward banking units worldwide.

“The dual wins with D360 Bank exemplify how Murex’s broad expertise spans across multiple banking functions, helping organisations excel in diverse areas of financial services,” said Nikhil Gokhale, Director of Research and Digital Properties at IBS Intelligence. “The strategic collaboration between Kakaobank and Murex and the seamless deployment of transformative solutions illustrate what effective partnerships can accomplish in digital banking. This recognition celebrates precision, scale and impact.”

At the core of these award-winning implementations is MXGO, a pre-packaged treasury solution built on the proven MX.3 platform. Tailored for fast-scaling digital banks, MXGO enables full front-to-back office coverage—from trading and risk management to settlement and regulatory compliance—while ensuring rapid deployment and cost efficiency.

D360 Bank: Driving Islamic FinTech Innovation

D360 Bank, a fully digital, Sharia-compliant bank headquartered in Saudi Arabia, adopted MXGO to transform its treasury operations. The implementation ensures full compliance with Islamic finance principles while enhancing operational visibility and performance across the treasury department.

Crucial to the project’s success was Elenjical Solutions, Murex’s systems integration partner, which provided on-the-ground expertise across project management, architecture, business analysis, and testing.

“D360 Bank’s adoption of MXGO has elevated how we manage treasury operations while fostering seamless collaboration across our organisation,” said Feras Al-Towaijri, Chief of Treasury and Investment at D360 Bank. “Deploying MXGO’s treasury management solution reflects our commitment to FinTech innovation. These strategic partnerships strengthen our capacity to scale efficiently in line with our growing portfolio of all-digital, Sharia-compliant banking solutions.”

“The bank has gained a single, consolidated system that can be used by all treasury department members, enhancing cooperation across the team,” added Marc Salamé, Murex Solution Architecture Director. “We are proud to have supported its journey and to continue to work with this institution as it further develops its business.”

Kakaobank: Scaling Treasury Operations in a Digital-Only Model

South Korea’s Kakaobank, the country’s largest internet-only bank by market capitalisation, selected MXGO to enhance its treasury capabilities amid rapid growth. The platform now supports core activities across FX cash, money markets, and fixed income, while covering the front office, market risk, operations, and accounting functions.

Murex’s expertise allowed Kakaobank to accelerate decision-making during deployment, streamlining design choices and aligning business requirements with industry best practices.

“Through MXGO, Kakaobank has improved the efficiency of its treasury operations,” said Salamé. “The solution was deployed and ready to test within five months. MXGO is designed for scalability to support the future growth of fast-growing organisations like Kakaobank, which often start with a minimal set of financial instruments and expand as new funding and market needs arise.”