Banque Saudi Fransi picks Finastra to automate treasury and trading ops

Banque Saudi Fransi has picked Fusion Kondor from Finastra to automate and standardise its treasury and trading operations.

The Saudi-based bank could also leverage the platform to launch new pricing models, trader activity monitoring and risk management features.

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 open platform easily integrates with existing systems and applications and is customisable to customers’ needs.

“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,” said Zuhair Mardam, head of Treasury at Banque Saudi Fransi.

“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.”

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Serge Tohme, managing director MEA and Turkey at Finastra said Fusion Kondor offers the bank a comprehensive trading, risk management and regulatory compliance solution. “Further down the line, Banque Saudi Fransi can explore opportunities to enhance its products and services by using the solution’s open APIs and connecting to Finastra’s open platform FusionFabric.cloud, which is in line with SAMA’s Open Banking initiative.”