Emirates NBD strengthens Treasury proposition with roll out of state-of-the-art enterprise platform
- Bank completes one of the world’s most comprehensive Calypso implementations of its kind for Treasury platform
Emirates NBD, a leading financial institution in the Middle East is pleased to announce that it has partnered with Calypso Technology Inc., the standard for treasury and capital markets software, to deliver one of the world’s most comprehensive implementations of its flagship Calypso treasury platform to date. This is a key milestone in Emirates NBD’s delivery of its multi-year digital transformation journey, part of the Group’s AED 1 billion investment towards digitising operations, products and services to enhance proposition to corporate clients and retail customers.
“As we progressively deliver our AED 1 billion digital transformation, it is critical to support the continued growth of our Treasury business with a sophisticated and scalable enterprise platform. Aligned with this objective, we are very pleased to have completed the Calypso Version 15 upgrade as one of the most comprehensive Calypso implementations of its kind worldwide. With a fully centralised, upgraded treasury enterprise solution in place for all international markets, that also delivers full resilience, availability and real-time monitoring, we look forward to continuing our decade-long partnership with Calypso ”
— Abdulla Qassem, Group Chief Operating Officer, Emirates NBD
As an existing Calypso client, the end-to-end upgrade to Calypso Version 15 ensures that Emirates NBD’s enterprise treasury solution will continue keeping pace with the increasingly sophisticated needs of its growing Treasury client-base.
Centralisation and consolidation were key goals for the upgrade, ensuring that all products and functions are henceforth available in one single core system, supporting all of Emirates NBD’s domestic and international markets. Further benefits include enhanced ease of use and scalability of Emirates NBD’s treasury platform. Calypso Version 15 further strengthens the platform’s resiliency and availability, while real-time monitoring capability is provided through App Dynamics. Thanks to Calypso’s new Front Office Workstation (FOWS), Emirates NBD traders can now efficiently monitor their cross-asset positions and P&L in real time. With Calypso’s robust capital reporting framework, Emirates NBD is also well positioned to meet Basel 3’s upcoming capital reporting requirements.
Commenting on the achievement, Abdulla Qassem, Group Chief Operating Officer, Emirates NBD said: “As we progressively deliver our AED 1 billion digital transformation, it is critical to support the continued growth of our Treasury business with a sophisticated and scalable enterprise platform. Aligned with this objective, we are very pleased to have completed the Calypso Version 15 upgrade as one of the most comprehensive Calypso implementations of its kind worldwide. With a fully centralised, upgraded treasury enterprise solution in place for all international markets, that also delivers full resilience, availability and real-time monitoring, we look forward to continuing our decade-long partnership with Calypso.”
Laurent Jacquemin, Chief Customer Officer, Calypso added: “We are delighted to partner with Emirates NBD in its multi-year transformation program to simplify its target operating model and systems landscape using our front-to-back treasury platform, and to enable the Group to improve decision-making by leveraging Calypso’s modern cross-asset Front Office Workstation. The success of this project is testament to Calypso’s best in class, front-to-back Treasury and Risk solution.”
Emirates NBD’s four-year digital transformation is now half-way complete, with an expected end-date of 2020. Launched in 2016, it includes an end-to-end upgrade of Emirates NBD’s capabilities across IT systems, architecture and infrastructure, as well as the bank’s information security and data, and finally, in terms of its IT business model.
About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 31st December 2018, total assets were AED 500.3 Billion, (equivalent to approx. USD 136 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.
The bank currently has 230 branches and 1069 ATMs and SDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.
The Group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the United Kingdom and representative offices in China and Indonesia.
The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. Emirates NBD Group is an Official Premier Partner of Expo 2020 Dubai. For more information, please visit: www.emiratesnbd.com