French banking group Societe Generale has gone live with Finastra’s Fusion Risk Asset and Liability Management (ALM) and Fund Transfer Pricing (FTP) solutions.
The new platforms, according to the technology vendor, will help the bank to modernise multiple solutions across the group.
Additionally, the platforms will simplify the bank’s infrastructure to comply with regulations such as the Interest Rate Risk in the Banking Book besides decreasing operational expenses.
The solutions have already been implemented for retail banking operations at Societe Generale Banque De Dtail France and Credit du Nord.
The deployment for European branches will follow in the coming months. The bank plans to deploy the technology across the global operation in foreseeable future.
Finastra global head of risk practice Arnaud Picut said: “Fusion Risk is an essential solution for Societe Generale to eliminate the complexity around its resources and regulatory compliance.
“The addition of Fusion Risk to Societe Generale portfolio is testament to our relationship with the bank and an incredibly significant deal for us which cements our strong relationship with one of the top banks in Europe.
“We’re looking forward to continuing our close collaboration with Societe Generale, helping the bank improve its customer experience by streamlining its solutions, and in turn supporting business growth.”
The French bank has long relationship with Finastra and the technology company has already delivered its treasury and capital markets, lending, retail banking and trade finance software.