Bank of Ningbo goes live on Calypso Collateral Management system as part of its Treasury transformation program
Calypso Technology Inc., a leading provider of cloud-enabled Front to Back, Cross Assets Capital Markets and Investment Management software and services, today announced the successful go-live of the Calypso Collateral Management solution for Bank of Ningbo.
An early participant in China’s derivatives trading market, Bank of Ningbo is expanding its OTC derivatives trading with overseas counterparties. As a result of tough Regulatory compliance and Risk management standards, the Bank selected Calypso’s Collateral Management Solution to perform end-to-end Automation of Collateral operations centrally.
“Taking a “best of breed” technology approach, the Bank chose and successfully implemented Calypso’s easy to deploy, robust end-to-end Collateral Management solution in record time. I am delighted to see this latest technology solution adopted so quickly by users, thanks to its configurability, off-the-shelf global standard features and the high project management standard of the Bank, the automation of the Collateral Management process has been extremely smooth.
I would like to congratulate Kmerit, a leading financial technology company, a key partner to major financial institutions such as CFFEX, Shanghai Clearing Center and many top banks in China, for joining forces with Bank of Ningbo and Calypso ”
— Huihua Li, Deputy General Manager of Risk Management Department of Bank of Ningbo
“Through a tremendous collaboration effort, the Calypso-Kmerit partnership delivered a modern Collateral Management and Margin solution to the Bank of Ningbo. Despite the challenging deadline, our ability to provide skilled and experienced personnel under a hybrid model – both on-site and remote – helped to significantly reduce implementation risk and complete the project in record time. Great teamwork from Calypso, Kmerit and the Bank of Ningbo is the only way we could have achieved this. ”
— San Lu, Director, Professional Services, Kmerit
“Throughout the years, the Calypso Collateral Management and Margin solution has grown consistently, and to see this expansion take hold in the China market added to the satisfaction of counting Bank of Ningbo as one of our Partners is extremely rewarding. Our long term relationship with Kmerit was vital to the success of this quick and effective implementation. Collaborating on multiple projects in recent years has enabled Kmerit to become an extension of the Calypso team, and we look forward to continue growing together into the future.”
— RG Manalac, Calypso’s Managing Director for APAC,
About Bank of Ningbo
Founded on 10 April 1997, Bank of Ningbo became the first listed city commercial bank in China on 19 July 2007. After 23 years' growth since its establishment, Bank of Ningbo has set up 15 branches outside Ningbo and with an overall 396 business networks. The Bank has developed into a public listed regional bank with total net capital of over RMB 148 billion, total asset of over RMB 1,500 billion, and more than 19,000 employees. It ranked the 110th globally in terms of Tier-1 Capital among “Top 1000 World Banks, 2020” by The Banker, and the 20th in the domestic banking industry. The Bank also ranked 112th globally in “The Top 500 Banking Brands, 2020" by The Banker.
Kmerit (Suzhou) Information Science & Technology Co., Ltd. is a leading financial technology company that is committed to providing world-class solutions to financial institutions in China. Established in 2008, Kmerit has proven track record servicing major financial institutions, such as CFFEX, Shanghai Clearing Center, and the top 30 banks in China. Our unique industry-based, consultative approach helps our clients build and run more innovative and efficient businesses.