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Caixa Geral de Depósitos selects Finastra treasury, risk solutions

By Sunniva Kolostyak

June 16, 2020

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Portuguese bank Caixa Geral de Depósitos has tapped Finastra for end-to-end treasury, risk management and regulatory reporting solutions to complete a front-to-back-to-risk transformation.

Finastra will provide the bank with its Fusion Kondor, Fusion Risk and Regulatory Reporting as a Service solutions – enabling automated and standardised interfaces for improvements to day-to-day operations and user experience.

Caixa Geral de Depósitos, a commercial bank with investment, asset management, brokerage and venture capital services, chose Finastra to keep up with market trends and changing regulations, and to make its current technology landscape more user friendly and efficient.

Finastra’s solutions include front-to-back treasury, straight-through processing for all asset classes, accurate pricing from the front office to risk, structured products, collateral management and regulatory cloud reporting.Finastra

José de Brito, Executive Board Member and CFO at Caixa Geral de Depósitos said: “We spent a lot of time looking at different market offerings but, in the end, Finastra was able to offer us a solution that aligned closely to our vision and approach. Fusion Kondor and Fusion Risk will enable us to drive innovation into our operations, digitising previously manual-intensive tasks to help us manage risk and continue our growth.

“We also believe its open architecture will ease development for us and are impressed with the transparent approach to implementation. We’re looking forward to developing this relationship over the next years.”

Fusion Kondor standardises and integrates the bank’s trading and risk services, while Fusion Risk manages risk and compliance functionalities. Regulatory Reporting as a Service will enable the bank to manage and automate reporting, and keep up to date with changing regulations.

“Caixa Geral de Depósitos was seeking the best solutions to optimize its treasury and capital markets functions, together with a trustworthy partner to provide seamless integration and support,” said Pedro Porfirio, Global Head of Treasury and Capital Markets at Finastra.

“The treasury, risk management and regulatory reporting solutions chosen by the bank will help support its targets for cloud enablement, digital transformation and future growth as it seeks to expand to new markets.”

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