Banque Saudi Fransi goes live with Finastra to future-proof treasury and trading business
Banque Saudi Fransi has gone live with the latest version of Fusion Kondor, Finastra’s treasury management solution. The move will enhance, automate and standardize the bank’s treasury and trading operations, including possibility of new pricing models, trader activity monitoring and risk management features, enabling it to strengthen its product offering, improve its user experience, all while keeping up with market changes.
Zuhair Mardam, Head of Treasury at 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 center 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 will help us grow our market share.”
Thamer Yousef, Chief Operations Officer at Banque Saudi Fransi said, “We are on a journey towards transforming and digitizing 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 falls in the heart of this key initiative.”
Fusion Kondor will enable Banque Saudi Fransi to trade volumes of treasury while offering the flexibility to support more complex derivatives, options, and structured trades. The solution comes with functionality that can be easily integrated with existing systems and applications. Fusion Kondor is designed as an open platform that is easily customizable.