Frost Bank in Texas, USA, has implemented the Calypso software solution to support its derivatives business. The Calypso software supporting interest rate derivatives processing is already up and running, while plans are now underway to extend the system to manage the trading and processing of various other instruments, such as commodities and foreign exchange, covering front-to-back office operations.
Through increased process automation, streamlined end-of-day processing and consolidated risk reporting, once the entire Calypso system is running across all functions, it will enable Frost Bank to reduce its operational risk and improve efficiency, asserts the vendor, enabling the institution to launch new products quickly and build market share.
Frost Bank is primarily engaged in the business of commercial and consumer banking through more than 115 financial centres across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio regions.
“We selected Calypso after a careful evaluation based on its scalable, multi-asset platform and successful software implementations elsewhere,” said Kyle Woodland of Frost Capital Markets. “Furthermore, Calypso’s Fast-Track solution for implementation allowed us to quickly install the software on time and keep expenses within our budget.”