Caixa Geral de Depósitos plans treasury revamp with Finastra
Portuguese bank Caixa Geral de Depósitos has selected a handful of Finastra systems to furnish its treasury and capital markets business.
The bank has picked up Finastra’s Fusion Kondor, Fusion Risk, and regulatory-reporting-as-a-service (RRaaS) platforms as part of a front-to-back-to-risk transformation.
Caixa Geral de Depósitos, founded in 1876, is a state-owned institution and the second-largest public sector banking corporation in Portugal.
According to Finastra, the bank was looking to transform its current technology landscape to make it more user friendly and more efficient.
Fusion Kondor will standardise and integrate the bank’s trading and risk services, whilst Fusion Risk will manage its risk and compliance functionalities.
RRaaS will manage the bank’s reporting “in a more automated way”, whilst making sure it is keeping up to date with changing regulations.
“Quality and customer service are the driving forces behind our bank,” says José de Brito, executive board member and chief financial officer at Caixa Geral de Depósitos.
“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.”
Finastra Global Services team is working with the bank to deploy the new systems through its Fusion Adopt implementation program.
Britos adds: “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.”