Calypso supplies the technology song sheet for Riyad Bank

9 July 2013

Riyad Bank, a large retail and commercial bank in Saudi Arabia with 251 branches across the Kingdom and the wider Middle East, has specified Calypso Technology to improve its internal treasury operations and structured product front-to-back-office support for clients.

The new Calypso system will be introduced cross-asset in the bank’s operations to support structured products and hedge accounting. It will also allow the bank to align its treasury operations with international and Islamic finance financial industry standards.

Improved operational capabilities are expected to lead to better straight-through processing (STP) and efficiency. Riyad Bank will change from a process based operating model to a more efficient exceptions-based one, it says as it rolls out the new front-to-back-office systems. The Calypso solution will support the cross-asset requirements of the bank’s business covering its foreign exchange (FX) (cash and derivatives), money market, interest rate derivatives, fixed income and commodities business, including precious metals and derivatives.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development