The UK operations of the National Bank of Egypt has deployed two solutions from Finastra – Fusion Treasury and Fusion Risk.

The bank is the oldest and largest operating in its home country. It has 338 branches within the country, and holds assets of around $18.7 billion. According to (some admittedly old) data from The Banker, the institution accounts for almost 23% of the country’s assets.

The integration between Fusion Treasury and Fusion Risk was a key factor in the bank’s decision to partner with Finastra. Combining the two creates a “holistic view of risk across the bank and helping to promote dynamic decision making based on seamless management of trading, risk, liquidity, and profitability data”.

Related: Finastra appoint new CIO

“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,” said Yasser Ibrahim, CEO and MD of the bank.

“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.”

James Pinnington, head of capital markets and investment management for northern Europe at Finastra, added: “Banks recognise that clients today want more joined-up finance, risk, payment and working capital services and expect fast, transparent, 24/7 access to these services. 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.”

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by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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