Saudi-based bank chooses latest version of Fusion Kondor to streamline trading, risk operations and deliver new services to customers.
Saudi Arabia-based Banque Saudi Fransi, has gone live with the latest version of Fusion Kondor, Finastra’s treasury management solution.
The move will enhance, automate and standardise the bank’s treasury and trading operations, including the possibility of introducing new pricing models, trader activity monitoring and risk management features. In addition, this will enable the bank to strengthen its product offering and improve its user experience, all while keeping pace with market changes.
Zuhair Mardam, Head of Treasury, Banque Saudi Fransi said: “As banks focus on improving returns on capital and meeting new regulatory obligations, the treasury occupies a unique position at the very centre of a bank’s operations and its revenue stream. Automating this part of the business means that we can manage global treasury trading operations with high levels of efficiency and compliance, yet still manage risk effectively and avoid expensive system costs. Ultimately, this will help us provide an excellent customer experience and help us grow our market share.”
Thamer Yousef, Chief Operations Officer, Banque Saudi Fransi said: “We are on a journey towards transforming and digitising our business by bringing in more innovative nimble services that have a competitive advantage, to make sure that we extend our business capabilities to provide the best experience for all our customers, whether retail or corporate. Treasury is at the heart of this key initiative.”
Fusion Kondor will enable Banque Saudi Fransi to trade high volumes of treasury while offering the flexibility to support more complex derivatives, options, and structured trades. The solution comes with functionality that can easily be integrated with existing systems and applications, and as it is designed as an open platform, it is also easily customisable.
Serge Tohme, Managing Director, MEA and Turkey, Finastra said: “Finastra has invested significantly in its solutions to introduce new trading and regulatory features, which have resulted in tangible business benefits for customers who have chosen to upgrade. With the latest version of Fusion Kondor in place, Banque Saudi Fransi will have a comprehensive trading, risk management and regulatory compliance solution that will help it to meet today’s challenges head on. Further down the line, the bank can explore opportunities to enhance its products and services by using the solution’s open APIs and connecting to Finastra’s platform for open innovation, FusionFabric.cloud – which is in line with SAMA’s Open Banking initiative.”
