Monzo Bank implements Mors Treasury Management System
By Gloria Methri
MORS, a provider of comprehensive financial software solutions, has announced the implementation of its Treasury Management System at Monzo Bank, the digital bank in the UK.
The MORS Treasury Management System is an integrated solution that covers front, middle, and back-office functionalities. This robust system includes Deal Capture, Limit Management, P&L, Risk Management, Accounting, and Settlements, offering Monzo Bank a suite of tools to streamline its treasury operations.
MORS was chosen by Monzo Bank in early 2023 for a fixed-price implementation of both the Treasury and ALM (Asset and Liability Management) systems. True to our reputation, we successfully completed the project within the specified 4-month timeframe and adhered to the agreed-upon cost projection.
Jari Ojanen, Chief Operating Officer at MORS Software, praised the collaborative nature of the project and commended the dedication of Monzo Bank’s team. “Monzo’s steadfast commitment from the outset of the project and our joint efforts to meet timelines were pivotal to our success,” Ojanen noted.
The project has now progressed to Phase 2, which involves the implementation of MORS ALM, covering Market Risk, Liquidity Risk, and Balance Sheet Management. The project’s progress is notable and remains on track to replicate the achievements of the initial phase.
Niklas Fellman, Chief Commercial Officer for MORS Software, expressed enthusiasm for the project implementation with Monzo Bank, emphasizing the alignment in organizational culture that has driven the project’s success. “Monzo is a significant addition to our UK portfolio, and we are eager to expand our presence further in the UK market. We have been receiving substantial interest from UK Banks and Building Societies seeking to partner with MORS. Our product is tailored for the UK market, and our reputation for customer care and on-time delivery sets us apart.”
MORS looks forward to continued collaboration with Monzo Bank and anticipates further growth in the UK financial sector.
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