Finastra, a financial services software and Cloud-enabled solutions provider, revealed on Tuesday (June 8, 2021) that Arkéa Banking Services, a subsidiary of Crédit Mutuel Arkéa and a company focused on banking and insurance services in France, has chosen Finastra’s Fusion Risk solution to help enhance routine business processes while lowering operational costs for local banking institutions.
The recent move will involve Arkéa Banking Services offering Business Process Outsourcing (BPO) services for banks’ IT and risk management activities with Finastra’s Fusion Risk. The Arkéa service is currently in use at a bank in France and was recently adopted by another French retail bank.
The Arkéa Banking Services professional team will be using the Asset Liability Management (ALM), Funds Transfer Pricing (FTP), and Regulatory Compliance including Liquidity Risk Engine and Reporting modules of Finastra’s Fusion Risk to assist local banks with addressing regulatory requirements while providing analytics and insights to enhance performance. This reportedly includes everyday operational oversight and strategic business planning.
Marc Chereau, Head of IT at Arkéa, stated:
“Fusion Risk is a proven solution, and one that Crédit Mutuel Arkéa already uses to support its internal needs, so we are very confident about using it as part of the hosting and outsourcing operations we provide. Finastra’s Fusion Risk offers both functional and technical excellence. As well as using the solution to manage risk, margin monitoring, balance sheet optimization and regulatory reporting, Fusion Risk will also support us in managing other banks’ technical operations, ensuring the highest standards of security, resiliency, performance and operating excellence.”
Arnaud Picut, Global Head of Risk at Finastra, remarked:
“Local financial institutions will benefit from Arkéa’s experience and technical expertise in retail and corporate banking and risk management, supported by the proven capabilities and powerful analytics of Fusion Risk, helping them to transform operations and enhance business performance. We’re delighted to work with the Arkéa Banking Services team and to provide technology solutions that support the pivotal role they play in supporting financial institutions, insurers and fintechs in France.”
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Source: https://www.crowdfundinsider.com/2021/06/176360-london-based-fintech-finastra-to-offer-fusion-risk-solution-to-arkea-banking-services/
