UniCredit has gone live with Murex’s MX.3 solution for UniCRedit Bank Austria and eight Eastern European banks.
The solution includes a programme of standardising front-to-back office technology and industrialising markets and treasury services. It is designed to consolidate these services on to a single platform to be shared across the whole group, leading to benefits in cost and operational efficiency.
It could also reduce the time-to-market for new products across the group’s governance framework.
The new platform has been implemented over two years, involving a partnership between Murex and UniCredit Business Integrated Solutions, UniCredit’s services company. It has now gone live successfully, to replace the previous fragmented legacy systems in the region.
Murex’s MX.3 for Limit Control solution is now linked to UniCredit’s internal Basel III-validated counterparty credit risk model. The solution also includes other features such as risk evaluation, regulatory reporting, payments and confirmations.
Legal, compliance and security standards are also built in, including protection of sensitive client information, as obliged by local data secrecy laws.
Fabio Cesaretti, head of business line markets, financing and advisory at UniCredit Business Integrated Solutions, said: “In terms of innovation, the global platform provides best of breed functionalities for the end users, therefore extending the baseline from where to exploit digital opportunities.”
CEO of Murex Group Maroun Edde said: “The strategic overhaul of UniCredit global IT infrastructure is, for us, a great achievement rooted both on the quality of the collaboration and the completeness of offering of our MX.3 front-to-back risk platform.”
He added: “We aim to further cement our partnership with UniCredit Business Integrated Solutions in years to come, and pursue our role as an enabler of their vision.”
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