Murex’s MX.3 goes live at Nationwide 17 January 2018London Reporter: Jenna Lomax
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Murex's MX.3 front-to-back risk platform has gone live for Nationwide Building Society's treasury business.
As part of the launch at Nationwide, Sapient Global Markets was selected to perform an assurance assessment, as well as the implementation of the new treasury solution.
Nationwide will replace its old legacy system with the new treasury solution to secure wider funding sources, review pricing rules and implement tighter risk, liquidity and collateral controls.
Murex’s MX.3 passed initiation tests by delivering increased straight-through processing for flow products, issuance process, micro and macro hedge accounting and limits management.
Andy Townsend, group treasurer at Nationwide, said: “With the new treasury platform we can significantly increase working efficiency through delivering a high level of automation along the entire value chain.”
“The success is a result of the hard work, commitment and dedication of the Nationwide, Sapient and Murex teams to deliver a platform that will be critical to our business.”
Philippe Helou, co-founder and managing partner at Murex, commented: “Thanks to the depth and breadth of MX.3, our platform is a key enabler of the organisation’s treasury transformation. Nationwide will now be able to reduce the amount of internal reconciliations while improving accuracy and operational efficiency.”
He added: “These tangible benefits have been successfully delivered thanks to the strong partnership between Murex, Nationwide and Sapient, and we are committed to maintaining this spirit of close collaboration in the future.”
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