IndusInd Bank strengthens partnership with Calypso Technology, adopting enhanced front office trading and treasury solution
Calypso Technology Inc., a leading provider of cloud-enabled capital markets and investment management software and services, today announced that IndusInd Bank has strengthened its partnership with the firm by adopting many of the next generation modules that have recently been added to the Calypso platform. These include Calypso Front Office Workstation (FOWS) and Client Activity Browser (CAB), in addition to several of Calypso’s latest Productivity Suite tools. These modules will be implemented as part of a version upgrade over the coming months.
Recognising that increasing market volatility and need to expand sales channels are driving banks to acquire next-generation front office platforms, Calypso has invested in developing such analytics and decision support tools to enable dealers to get key information efficiently, enabling faster decisions and quicker time to market.
IndusInd Bank is known as an early adopter of best-in-class technologies to support its treasury and capital markets verticals. A longstanding client, the bank implemented Calypso’s cross-asset front-to-back Treasury Suite in early 2014 to achieve faster business growth and higher straight-through processing (STP) rates.
“We at IndusInd Bank always look to build partnerships that help us deliver some of the most innovative solutions, that can benefit our clients and customers. In line with this vision, the Bank decided to evaluate Calypso’s next generation front office tools, that offer all front office critical data in a centralized place, with interactive dashboards and widgets. What’s more exciting is the flexibility of the tool that enables the work station for each dealer to be configured based on his or her market-specific needs. These tools allow each dealer to see real-time risk and P&L across products and time buckets enabling efficient risk management. Coupled with this, the Compliance Module integrates natively with the front office and enables a pre-deal high standard compliance check as required by the bank.”
— Arun Khurana, Deputy CEO & Country Head - Global Markets, Transaction Banking, Financial Institutions and Public Sector for IndusInd Bank says of the partnership with Calypso
“It is great to see IndusInd, one of our early partners in the region, continue to evolve with and invest in the Calypso platform as they grow the business. This kind of long-term partnership allows clients to benefit fully from our commitment to continued R&D enhancements and our growing investment in our India Center of Excellence (CoE). We hope to replicate such relationships with our other customers globally. Together, we will be able to adapt and grow in the ever changing capital markets world. Against the uncertain backdrop caused by COVID-19, it is refreshing to see IndusInd continue to plan for the long term knowing that investments made now will position them strongly for years to come.”
— RG Manalac, Calypso’s Managing Director for APAC
About IndusInd Bank Limited
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumers and corporate customers. Its technology platform supports multi-channel delivery capabilities. As of 30 June, 2020, IndusInd Bank has 1911 branches/banking outlets and 2721 ATMs spread across 751 geographical locations in the country. The bank also has representative offices in London, Dubai and Abu Dhabi. The bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges (BSE and NSE) and major commodity exchanges in the country, including MCX, NCDEX and NMCE. IndusInd Bank was included in the NIFTY 50 benchmark index on April 1, 2013.
- CRISIL AA + for Infra Bonds program
- CRISIL AA for Additional Tier I Bonds program
- CRISIL A1+ for certificate of deposit/short term fixed deposits program
- IND AA+ for Senior bonds program by India Ratings and Research
- IND AA for Additional Tier I Bonds program by India Ratings and Research
- IND A1+ for Short Term Debt Instruments by India Ratings and Research
Follow us on Twitter and Facebook.