Full solution implementation delivered in 10 months with notable cost savings
Murex, a global leader in trading, risk management and processing solutions, is pleased to announce the successful launch of the MX.3 SaaS solution at ATB Financial. Murex SaaS is a managed services offering for the MX.3 platform, encompassing infrastructure and application management.
ATB pursued this initiative in order to create a simple yet comprehensive foreign exchange experience for their customers. In addition to the customer benefit, ATB was also able to rationalize their IT landscape, broaden the scope of financial instruments they provide on their digital platform, and prepare for a large volume increase in their trading activities. Due to the strength of the solution’s risk management capabilities, extensive asset class coverage, and the rapid and cost-effective implementation of its SaaS offering, Murex was an obvious partner for this initiative.
The first phase of the project was completed in under 10 months covering interest rate derivatives front-to-back-to-risk, including both market and credit risk as well as collateral management. ATB’s official go-live on Murex SaaS took place in August 2017. Project implementation costs were significantly reduced compared with an on premise installation. Additionally, the Murex SaaS offering has enabled ATB to reduce ongoing IT costs through outsourcing all management, maintenance and upgrades of the solution to Murex.
Trading, risk and back office teams based in Calgary and Edmonton will use the Murex SaaS solution for managing interest rate derivatives from front-to-back. They will also use the system for risk management across credit risk, market risk and collateral.
ATB’s Chief Transformation Officer, Wellington Holbrook notes “ATB prides itself on being a leader in the assessment and adoption of new technologies that will benefit both our team and our customers. It was clear to us Murex’s award-winning solution was the best fit for our needs. The project was completed on time and on budget. After such a smooth collaboration, we’re keen to launch phase two of the project and extend the platform to include commodities and FX trading.”
Edouard Balliere, Head of Business Development for Murex Americas remarked, “We are extremely pleased with the successful implementation of Murex SaaS at ATB. The solution will help ATB rationalize and reduce IT overheads. We also proved SaaS deployments achieve significant professional services and maintenance cost reduction over well-defined initiatives such as the one ATB assigned to us. We look forward to working closely with ATB to support their growing business in the future.”
For more than 30 years, Murex has been providing enterprise-wide, cross-asset financial technology solutions to capital markets players. Its MX.3 platform supports trading, treasury, risk and post-trade operations, enabling clients to better meet regulatory requirements, manage enterprise-wide risk, and control costs. With more than 45,000 daily users in 65 countries, Murex has clients in many sectors, from banking and asset management to energy and commodities.
Murex is an independent company with 2,000 employees across 17 countries. Murex is committed to providing cutting-edge technology, superior customer service, and product innovation.
Customer-obsessed and transformation-oriented, ATB Financial is the largest Alberta-based financial institution, with assets of over $50 billion. Our purpose is to create happiness and making banking work for people. Today, 5,300 team members are focused on more than 725,000 customers in 244 Alberta communities to do just that.
Our dedicated transformation team is made up of over 500 change agents that innovate process, enable people and add new technology. We thrive on being constantly uncomfortable, partnering with like minds, finding meaningful solutions to problems and focusing on exponential change.
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