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Itaú Paraguay selects Adenza to strengthen treasury management

By Edlyn Cardoza

February 07, 2023

  • Adenza
  • Axiomsl
  • Calypso Technology
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Adenza, Calypso Technology, AxiomSL, Itaú Paraguay, Calypso Treasury Foundations SaaS Solution, Treasury Management Services, Fixed Income, Money Market Needs, CapCloud Platform, Financial Institutions, Funds Transfer Pricing, Operational Risk, ParaguayAdenza, formed by the merger of Calypso Technology and AxiomSL, announced that Itaú Paraguay, the country’s second-largest bank, has selected Adenza’s Calypso Treasury Foundations SaaS solution to support its treasury management services, with a specific focus on managing its fixed income and money market needs.

“With the enhanced functionality we gain from Calypso, one of the key areas of focus for us will be Funds Transfer Pricing, to enable efficient management of our balance sheet and measurement of risk-adjusted profitability. This will aid our decision-making in terms of product pricing, profit allocation and comparison of business activities,” said Juan Canete, Itaú Paraguay’s Head of Banking Book.

Driven by the need to increase product coverage and accelerate time-to-market, Itaú required a robust platform to support the local market growth, newer products, and increased volumes. The fully managed SaaS Calypso Treasury Foundation solution will unlock efficiencies, free up resources, and set up the required flexibility and scalability to maximise its growth potential. The solution, offered on Adenza’s CapCloud platform, will increase the bank’s business agility, speeding up time-to-market for its new product offerings.

Calypso Treasury Foundations uses a standardised reference model based on consolidated market best practices and is fully configurable to address local market needs. It provides local banks with a solid baseline to scale, accelerate their implementation timeline and expand their business. As a result, financial institutions like Itaú Paraguay benefit from a bank-wide, cross-asset holistic view of their books – real-time, enterprise-wide and on a single platform.

“With Calypso Treasury Foundations, Itaú Paraguay can rapidly benefit from out-of-the-box functionality and a significantly reduced implementation timeline, coupled with the increased business agility of the CapCloud platform to streamline regular updates, speed up time-to-market and reduce operational risk. Leveraging our Latin American Centre of Excellence, we are pleased to provide Itaú with the local support and knowledge that is critical in their growth journey,” said Luis Gustavo Penteado, Adenza’s Director of Sales, Latin America.

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