The Netherlands-based NIBC Bank has migrated to Torstone’s processing platform, Inferno, to automate its post-trade operations.
Torstone Inferno is a multi-asset, multi-entity cloud-based platform covering trade capture, settlement, accounting, corporate actions, reconciliation and regulatory reporting.
Additionally, it provides a fully integrated, feature-rich user experience for middle and back-office staff, increasing straight-through processing (STP) and reducing manual effort, Torstone revealed.
Inferno was selected to replace NIBC’s legacy systems as the firm rationalises its operations to drive efficiencies across the wider business.
According to Torstone, consolidating processes on Torstones software-as-a-service platform will also enable NIBC to benefit from Torstone’s enhanced service model, resulting in the reduced total cost of ownership.
Brian Collings, CEO, Torstone, said: “We are thrilled that NIBC chose Torstone to consolidate its multiple businesses on our platform as they continue to expand and diversify in the global marketplace.”
“The successful implementation of Inferno is the result of a close collaboration between Torstone and NIBC’s teams, who worked together to ensure timely delivery.”
“We look forward to working with NIBC further and continuing to drive greater automation through our agile, integrated platform.”
Collings added: “Offering Inferno via the Amazon Web Services (AWS) platform has equipped us to further enhance the scalability of our platform, both in terms of rapid deployment and flexibility to expand our technology footprint.”
.jpg)