Banco de Mexico revamps risk management tech with Finastra’s Fusionrisk
Banco de Mexico, the country’s central bank, is replacing its legacy risk management software with Finastra’s Fusionrisk.
“The heightened profile of Mexico in world politics, coupled with events such as Brexit and the US election, places the region firmly on the world’s stage,” Finastra states.
“The growing size and complexity of the Mexican financial system highlighted Banco de Mexico’s need to advance its legacy risk management system.”
The vendor adds that Fusionrisk best suited the bank’s needs for a “dynamic system” that provided “greater speed and efficiency” to risk management and reporting. The new platform will help Banco de Mexico “address stability concerns” as it will speed up the daily value at risk (VAR) calculations.
Fusionrisk was chosen following an evaluation of various risk management solutions, according to Finastra.