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Banque Saudi Fransi goes live with Refinitiv Electronic Trading Platform to future-proof Foreign Exchange online automatic trading business

08/Dec/2021
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Banque Saudi Fransi successfully implemented ET, the first phase of Refinitiv Electronic Trading Platform System, on the 19th and 20th of November 2021.

The release, which is part of BSF’s strategic initiatives is a critical move that will enhance, automate and standardize the bank’s Foreign Exchange (FX) trading operations. Refinitiv ET FX online platform, an LSEG offering, provides an enhanced customer experience, offers a powerful suite of solutions, delivers efficiencies for the bank through improved automation and faster transaction execution and hedging while streamlining risk management. The transformational release 1 is successfully implemented and rolled out to customers gradually to improve the digital banking experience.

The agile automated solution adds a competitive advantage to Banque Saudi Fransi while reducing operational risk. The platform is so agile that the Client can deal with virtually any available currency pair of his client accounts seamlessly online and in real-time 24 hours a day for any value date up to Spot Date as per market standards.

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 FX Trading part of the business means that we can manage FX treasury trading operations with high levels of efficiency and compliance, yet still manage risk effectively. Ultimately this will 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 agile services that have a competitive advantage, to make sure that we extend our business capabilities to provide the best experience for all our customers. Treasury falls in the heart of this key initiative.

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