Rabobank taps Murex for Brazil implementation
24 October 2023 Brazil
Image: Jose/stock.adobe.com
Rabobank has expanded its partnership with Murex, going live with back-office, operations and finance services on the MX.3 platform in Brazil.
Rabobank Brazil now supports a number of onshore and offshore accounts, covering areas including post-trade and settlement, reporting, and credit and liquidity risk.
Operations are compatible with local market and regulatory requirements, and adhere to rules and regulations outlined by Banco Central do Brasil, Conselho Monetario Nacional and Commissão de Valores Mobiliários.
The announcement forms part of the firm’s global IT transformation journey, following earlier front-office and risk implementations. Rabobank has conducted several systems rationalisation initiatives with Murex, using the company’s front-to-back nature and continuous integration offering.
Joe Iafigliola, co-head of the Americas at Murex, says: “The Brazilian capital markets, the largest in Latin America, are experiencing significant growth in transaction volume. Regulatory changes in recent years helped boost the investment industry. Hence, capital markets are transforming very rapidly with a high appetite for technology to support new regulation, changing market structure and strategies toward digitalisation and rationalisation.
“We are proud to support Rabobank, with the aim to rationalise its IT ecosystem and focus on strengthening its competitive positioning in the region.”
Vivian Pascoalino, chief operating officer for Rabobank South America, comments: “Since implementing MX.3 in Brazil, we have already seen significant improvements in our operational efficiency and risk management capabilities.
“The principles of keeping IT simple, standardising across locations and products, and maximising straight-through processing have been critical to the success of our implementation. Overall, the MX.3 implementation will enable us to improve our competitiveness, better serve our customers and achieve our strategic goals.”
Rabobank Brazil now supports a number of onshore and offshore accounts, covering areas including post-trade and settlement, reporting, and credit and liquidity risk.
Operations are compatible with local market and regulatory requirements, and adhere to rules and regulations outlined by Banco Central do Brasil, Conselho Monetario Nacional and Commissão de Valores Mobiliários.
The announcement forms part of the firm’s global IT transformation journey, following earlier front-office and risk implementations. Rabobank has conducted several systems rationalisation initiatives with Murex, using the company’s front-to-back nature and continuous integration offering.
Joe Iafigliola, co-head of the Americas at Murex, says: “The Brazilian capital markets, the largest in Latin America, are experiencing significant growth in transaction volume. Regulatory changes in recent years helped boost the investment industry. Hence, capital markets are transforming very rapidly with a high appetite for technology to support new regulation, changing market structure and strategies toward digitalisation and rationalisation.
“We are proud to support Rabobank, with the aim to rationalise its IT ecosystem and focus on strengthening its competitive positioning in the region.”
Vivian Pascoalino, chief operating officer for Rabobank South America, comments: “Since implementing MX.3 in Brazil, we have already seen significant improvements in our operational efficiency and risk management capabilities.
“The principles of keeping IT simple, standardising across locations and products, and maximising straight-through processing have been critical to the success of our implementation. Overall, the MX.3 implementation will enable us to improve our competitiveness, better serve our customers and achieve our strategic goals.”
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