Finastra, a UK-based financial technology company, said that the National Bank of Egypt (UK) is deploying its Fusion Treasury and Fusion Risk solutions.
Image: A branch of National Bank of Egypt in Cairo. Photo: courtesy of Daniel Mayer/Wikipedia.org.
The treasury and risk solutions will be tightly integrated with the bank’s existing Fusion Equation core banking system – helping the bank to deliver a more comprehensive and superior service.
Finastra Northern Europe capital markets & investment management head James Pinnington said: “Banks recognize that clients today want more joined-up finance, risk, payment and working capital services and expect fast, transparent, 24/7 access to these services.
“A joined-up approach that fully integrates the treasury, risk management and regulatory functions at the heart of the bank’s operations is essential. We are helping the bank make this a reality so that it can service its customers in the very best way.”
The integration between Fusion Treasury and Fusion Risk was a key factor in the bank’s decision to partner with Finastra.
Together, the solutions facilitate accurate, real-time data management – providing a holistic view of risk across the bank and helping to promote dynamic decision making based on seamless management of trading, risk, liquidity, and profitability data.
In addition, increased automation and the removal of manual processes will help the bank reduce operational risk and deliver streamlined regulatory reporting.
National Bank of Egypt (UK) CEO and managing director Yasser Ibrahim said: “Finastra has a tightly integrated, best-in-suite product range that’s ideally suited to supporting our treasury and risk management operations.
“It was important that we could deploy a solution that integrates easily with our existing core banking system, that is cost-effective, and also scalable to grow with our needs in the future.
“During the vendor selection process, Finastra was able to demonstrate all these capabilities and the collaboration between Finastra and our in-house team is very strong. This will be essential as we roll out the new functionality across the bank over coming months.”
Source: Company Press Release.