Luminor Bank deploys FIS’ cloud solution to optimise liquidity
24 March 2021 UK
Image: Zamurovic Brothers/adobe.stock.com
Luminor Bank, the leading local bank in the Baltics, is enhancing its liquidity optimisation with FIS’ cloud-based balance sheet management solution.
FIS’ solution will provide the bank with advanced tools for assessing the market risk of its financial instruments and enhance stress testing capabilities.
It will also help Luminor Bank comply with regulatory requirements, including Interest Rate Risk in the Banking Book (IRRBB).
Luminor Bank AS, which has nearly 900,000 clients, is the third-largest provider of financial services in the Baltic banking market, and operates in Estonia, Latvia, and Lithuania.
The bank has selected the FIS Ambit Focus, an integrated, best practice balance sheet management solution.
Based in the FIS private cloud, the solution provides versatile simulation and stress scenario capabilities to manage risk and regulatory requirements across profitability, liquidity and solvency.
According to Nasser Khodri, head of capital markets sell side at FIS, the way banks measure and report on market and liquidity risk is changing quickly, with a growing percentage of capital markets firms now placing an increased reliance on cloud and managed services.
Khodri says: “FIS is committed to helping our clients stay ahead of the rapidly changing market. This solution will provide Luminor Bank with the functionality, flexibility and visibility it needs in order to support its business well into the future.”
Olof Sundblad, head of treasury and anti-money laundering at Luminor Bank AS, adds: “With its advanced functionality, this innovative cloud-based solution vastly improves our ability to manage risk and maximise our liquidity. It also supports continuously evolving regulatory requirements.”
Sundblad also notes: “We are excited to work with FIS as we continue to grow our business across the Baltics.”
FIS’ solution will provide the bank with advanced tools for assessing the market risk of its financial instruments and enhance stress testing capabilities.
It will also help Luminor Bank comply with regulatory requirements, including Interest Rate Risk in the Banking Book (IRRBB).
Luminor Bank AS, which has nearly 900,000 clients, is the third-largest provider of financial services in the Baltic banking market, and operates in Estonia, Latvia, and Lithuania.
The bank has selected the FIS Ambit Focus, an integrated, best practice balance sheet management solution.
Based in the FIS private cloud, the solution provides versatile simulation and stress scenario capabilities to manage risk and regulatory requirements across profitability, liquidity and solvency.
According to Nasser Khodri, head of capital markets sell side at FIS, the way banks measure and report on market and liquidity risk is changing quickly, with a growing percentage of capital markets firms now placing an increased reliance on cloud and managed services.
Khodri says: “FIS is committed to helping our clients stay ahead of the rapidly changing market. This solution will provide Luminor Bank with the functionality, flexibility and visibility it needs in order to support its business well into the future.”
Olof Sundblad, head of treasury and anti-money laundering at Luminor Bank AS, adds: “With its advanced functionality, this innovative cloud-based solution vastly improves our ability to manage risk and maximise our liquidity. It also supports continuously evolving regulatory requirements.”
Sundblad also notes: “We are excited to work with FIS as we continue to grow our business across the Baltics.”
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