Murex, the international leader in trading, risk, and processing solutions for capital markets, reveals that Banorte has implemented Murex’s MX.3 platform for its credit risk management and XVA desk deployment.
As noted by Murex’s management:
“We are the long-term technology partner for the capital markets, working with financial institutions in over 60 countries to adapt and evolve their IT systems. In a changing financial world, our technology is designed to help our 57,000 daily users respond to the challenges they face today and build foundations for the future.”
MX.3 is Murex’s open platform that sits at the heart of their customers’ IT infrastructure. This agile foundation brings together “a specialized set of business process to deliver regulatory and business ready solutions, across asset classes, business functions and sectors,” the company explains.
The modular platform means clients are able to consolidate and grow their IT infrastructure step-by-step, “at a lower cost and delivering immediate, tangible business value.”
- Consolidate inefficient legacy systems
- Manage cost pressures and reduce TCO
- Improve regulatory time-to-market and efficiency
Sales, trading and operations teams have depended on the Murex platform for more than a decade. Following a selection process, Murex’s platform was chosen by Banorte to integrate advanced credit risk mitigation solutions while allowing the organization to introduce a new XVA desk.
Jean Carrer, Head of Business Development in Murex’s Mexico offices, stated:
“We are delighted to see the MX.3 platform is being used by Banorte for its XVA desk. It strengthens our partnership, paves the way to additional systems replacement and highlights Murex’s position as the leading technology vendor in the credit risk and XVA space in Latin America.”
Abraham M. Izquierdo, FRM: Executive Director, Risk, at Grupo Financiero Banorte, remarked:
“At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution we had been using for many years with Murex and deploy more modern credit limit management metrics.”
Abraham added that this rollout of PFE was made possible “thanks to [their] partnership with Murex and its Upgrade as a Service.”
Abraham further revealed that within 24 months, they upgraded twice and “brought many new functions to our business: collateral, equity desk opening, LIBOR reform, and, of course, PFE and XVA.”
Abraham also shared that Murex’s ownership of this process “allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk.”