back Back

Banorte implements the Murex solution for automation of risk management

By Joy Dumasia

October 27, 2021

  • Banorte
  • Credit Risks
  • Grupo Financiero Banorte
Share

Murex, the global leader in trading, risk, and processing solutions for capital markets, is pleased to announce that Banorte has successfully implemented Murex’s flagship MX.3 platform for its credit risk management and XVA desk deployment.

Sales, trading and operations teams have relied on the Murex platform for more than a decade. Following an extensive selection process, Murex’s platform was chosen by Banorte to adopt advanced credit risk mitigation technics and enable the organization to deploy a new XVA desk.

Jean Carrer, Head of Business Development in Murex’s Mexico offices, said: “We are delighted to see Banorte is using the MX.3 platform for its XVA desk. It strengthens our partnership, paves the way to additional systems replacement and highlights Murex’s position as the leading technology vendor in the credit risk and XVA space in Latin America.”

Abraham M. Izquierdo, FRM: Executive Director, Risk, at Grupo Financiero Banorte, said: “At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution we had been using for many years with Murex and deploy more modern credit limit management metrics. This rollout of PFE was made possible thanks to our partnership with Murex and its Upgrade as a Service. Within 24 months, we upgraded twice and brought many new functions to our business: collateral, equity desk opening, LIBOR reform, and, of course, PFE and XVA. Murex’s ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk.”

Recently, IBS Intelligence reported that Gulf Bank had launched the MX.3 integrating platform in collaboration with Murex, the global leader in trading, risk management and processing solutions for capital markets. The platform implementation is a transformative step for the Bank as it develops and automates its treasury and capital markets systems.

Previous Article

October 27, 2021

Marygold & Co. launches unique banking and financial services to organize financial lives

Read More
Next Article

October 27, 2021

Kodak Alaris and Emmedi to provide banks with new check processing solution

Read More










IBSi Daily News Analysis

FinTech, future, trends

December 08, 2022

Banorte

Here’s how the FinTech landscape looks like for 2023

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

FAB Global Transaction Banking announces partnership with Komgo

Read More

December 07, 2022

Swiss Digital Bank Alpian selects Napier for Financial Crime Compliance

Read More

December 06, 2022

ClearBank selects ThetaRay AI Tech to protect banking platform

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022