RHB Bank gets modern capital markets tech with Murex
The bank says it wanted to modernise and future-proof its treasury and risk infrastructure and to replace its multiple legacy systems with a single platform to offer a wider range of derivatives products.
The deal with Murex was signed back in 2015, FinTech Futures understands.
“When we embarked on this project, we were looking for a scalable solution to drive business growth, improve pricing and risk management capabilities and reduce cost with operational efficiency,” says Mohd Rashid Bin Mohamad, group treasurer, group treasury and global markets at RHB.
He adds: “We also realised at the onset the importance of having a good core working team and thereby picked the relevant experienced representatives across the various functional areas to champion the implementation.”
The aim was to simplify processes and mutualise analytics across entities to gain one clear view of the business, from front-office activities through to risk management, treasury, settlement, accounting and reporting.
RHB says it selected MX.3 to support the demand for more sophisticated hedging and investment products.
By moving from multiple systems to a single platform, the bank adds that it has been able to introduce standardisation of its processes across entities, reduce infrastructure and operational costs.