Leading French bank has modernized and simplified infrastructure across the group’s global entities
Beirut, Lebanon, October 29, 2018 – Société Générale, one of the leading financial services groups in Europe, has deployed Finastra’s Fusion Risk Asset and Liability Management (ALM) and Fund Transfer Pricing (FTP) solutions. The move has enabled the bank to streamline multiple solutions across the group, simplifying its infrastructure so that it can comply more efficiently with regulations including the Interest Rate Risk in the Banking Book, and also reduce costs.
Finastra has a long history of working with Société Générale Group, which already benefits from Finastra’s treasury and capital markets, lending, retail banking and trade finance software. The leadership team at Société Générale sought a solution to facilitate all ALM and FTP activities for the group retail banking entities in France. The solutions are already live at Société Générale Banque De Détail France and Crédit du Nord, and European branches will follow in the coming months. The bank expects to roll out the solution globally in time.
Arnaud Picut, Global Head of Risk Practice at Finastra said, “Fusion Risk is an essential solution for Société Générale to eliminate the complexity around its resources and regulatory compliance. The addition of Fusion Risk to Société Générale’s portfolio is testament to our relationship with the bank and an incredibly significant deal for us which cements our strong relationship with one of the top banks in Europe. We’re looking forward to continuing our close collaboration with Société Générale, helping the bank improve its customer experience by streamlining its solutions, and in turn supporting business growth.”
Built on components that can be shared beyond the risk and compliance function, Fusion Risk offers a strategic path to transformation. Micro-services form the foundation to unite disparate data across the organization while adding performance, scalability, and visibility for timely and better decision-making. Fusion Risk is fully scalable, designed to evolve with changing markets and regulatory demands.
About Finastra
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 90 of the world’s top 100 banks use Finastra technology.
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