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Calypso and South African banks initiate innovative localized classroom training model to mutualize costs and optimize benefits

• The new initiative, driven by South African challenger bank Sasfin, made specialized Calypso classroom training accessible to a large group of Calypso users, at a cost aligned to banks’ training budgets. The initiative saw four different Calypso clients and partners collaborate to benefit from a multi-week training program, delivered in Johannesburg at shared cost. All participants declared the experience ‘a great success’.

Calypso Technology Inc., a leading provider of cloud-enabled capital markets and investment management software and services, has a growing client base across Africa and is committed to the successful implementation and use of its solutions there.

Sasfin Bank Limited (Sasfin) recently implemented the Calypso Platform as its core Trading and Treasury Management system. The bank recognized that to realize optimum benefits from its investment in Calypso, it needed to involve as many users as possible in high-quality, hands-on training delivered by product specialists.

Calypso provides hands-on training at state-of-the-art training centers in London, San Francisco and Mumbai. But, as Marlana Möller, Sasfin’s portfolio and program manager responsible for Trading and Treasury, points out - the cost of the training abroad is not really aligned with budgets in the African market.

Says Ms. Möller:

“Most South African clients would probably only be able to send one or two delegates to Calypso’s established classroom training centers abroad. So, I reached out to Calypso Learning Services and asked them to consider moving outside of the standard training model to accommodate their South African clients. Dheeraj Nyati, who heads up Calypso Learning Services, responded immediately and we started discussions.”

Realizing that a certain class size would have to be achieved to make the shared training viable for both sides, Ms. Möller reached out to her connections among other Calypso clients and partners in the region.

She continues:

“It was evident from the reaction of these banks that there is a great appetite for Calypso training in Johannesburg. With the help of the other banks, Standard Bank in particular, we could work out a model of shared costs that made this training very cost-effective for all Calypso’s South African clients.”

South African Reserve Bank and specialist managed services company Andile also participated.

The training was carried out over two weeks and involved more than 60 participants. The training agenda was tailored to meet participants’ needs.

Says Laurent Jacquemin, Calypso’s Chief Customer Officer:

“Access to continuous education is important in rapidly changing capital markets given the emergence of new regulations, new developments to products and our clients’ expanded use of our solutions. Recognizing this, Calypso Learning Services set up Calypso Classroom Training in San Francisco, London and Mumbai this year. Given the success of the Johannesburg shared classroom concept, we intend to add more locations (possibly Stockholm and Sydney) and encourage more clients and partners to proactively engage with us on their training needs, to optimize training costs by taking advantage of shared classrooms.”

Adds Wayne Damon from Standard Bank – Global Markets:

“The fact that Calypso were able to host the training in Johannesburg made the training economically viable and available to a broader audience. The trainers were excellent, well versed in a wide variety of topics and were able to cover front and back office extensively. Meeting people and understanding that there are common challenges between the organizations creates the opportunity to develop creative and collective solutions.”

Concludes Ms. Möller:

“By coordinating our efforts and sharing the costs we managed to train 60-plus delegates in Johannesburg. The training itself was of a very high standard. The Calypso trainers who traveled to South Africa were well versed in their areas of expertise and provided training of an international standard. With delegates from multiple banks in the classrooms I witnessed the start of a collaboration that would surpass this event. There was a sharing of challenges, ideas and opportunities around the platform as well as the industry. This prompted me to start an industry Calypso Working Group (Forum) where IT and Business Leaders can discuss a wide variety of topics to benefit all. I was pleased with the outcome and hope that this was the first of at least an annual training event in Johannesburg. With such a cost-effective training module, we can certainly consider including other Calypso clients in Africa.”

About Calypso Technology, Inc.

Calypso Technology, Inc. is a cloud-enabled provider of cross-asset front-to-back solutions and managed services for financial markets with over 35,000 users in 60+ countries. Its award-winning software improves reliability, adaptability and scalability across several verticals, including capital markets, investment management, central banking, clearing, treasury, liquidity, and collateral.

Calypso is pioneering innovative technologies (native cloud technology, AI, Big data) that reimagine capital markets.

“Calypso” is a registered trademark of Calypso Technology, Inc. in the U.S., EU and other jurisdictions. Other parties’ trademarks or service marks are the property of their respective owners.

About Sasfin Bank

Sasfin Holdings Limited is a banking and financial services group committed to enabling growth in the businesses and global wealth of its clients. Sasfin provide a comprehensive range of specialist financial products and services focused on the needs of asset suppliers, small and medium businesses as well as institutional and private investors.