Guy Otayek, Head of Murex APAC

Malaysian Bank, RHB Bank Berhad (RHB Bank) has gone live with Murex MX.3 to meet its Islamic and conventional finance needs in the ASEAN region.

The supplier states that the need to modernize and future-proof RHB Bank’s treasury and risk infrastructure and to replace its multiple legacy systems with a single platform that offers a wider range of derivatives products drove the project.  The aim being- to simplify processes and mutualize analytics across entities to gain one clear view of the business, from front-office activities through to risk management, treasury, settlement, accounting and reporting.

Guy Otayek, Head of Murex APAC, comments “As the Asian markets continue to evolve, we are very happy to be partnering with the RHB Banking Group, giving them the software and support they need to meet future regulatory demands and harness the latest technology. This go live is a great example of how IT transformation can open new paths for business growth and we look forward to working with RHB Bank and other banks in the region on future projects.”

Speaking about the partnership, Mohd Rashid Bin Mohamad, Group Treasurer, Group Treasury & Global Markets at RHB Banking Group says, “When we embarked on this project, we were looking for a scalable solution to drive business growth, improve pricing and risk management capabilities and reduce cost with operational efficiency. With Murex’s MX.3, we can achieve these three goals with one platform.

Following the integration, RHB Bank can trade structures seamlessly, introduce new products to the market faster and eliminate time-consuming manual processes. By moving from multiple systems to a single platform, the bank has also been able to introduce standardization of its processes across entities, reduce infrastructure and operational costs.

Incorporated in 1994, RHB Bank Berhad provides commercial banking and financial services primarily in Malaysia.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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