Frankfurt based banking and finance company Commerzbank (FRA:CBK) has announced that it has completed a strategic migration and simplification of its global FX, FX derivatives, equities and commodities activity, streamlining trading and risk in Murex’s integrated MX.3 platform.
Paris based Murex, which provides trading, risk management and processing solutions for capital markets companies, TeamTek and Infosys were pleased to accompany and support Commerzbank on a journey that achieves model simplification and furthers business expansion, consolidation, modernization, and digitalization, now and in the future.
Sebastian Kauck, Commerzbank’s CIO for corporate clients said,
“The successful platform consolidation is a major achievement. Throughout this project, the collaboration of our internal teams with Murex, TeamTek and Infosys has always been an integral part of its success. The new setup enables Commerzbank to significantly enhance process efficiency and simultaneously reduce costs. Additionally, it lays the foundation for future business growth as we can more swiftly adapt to market changes.”
Luc Testud, Murex managing director, Central Europe added,
“Murex is proud to support Commerzbank in this model simplification journey. This creates the opportunity for future expansion through an integrated cross-asset platform, accelerating time to market to innovate and enabling further steps of digitalization.”
TeamTek, a Bounteous x Accolite company, played a significant role in the migration program, from the testing automation implementations to the full end-to-end delivery of the equity migration project.
Christine Al Khalil, co-founder of TeamTek said,
“Since the start of our collaboration in 2020, our unwavering commitment to Commerzbank was to bring quality and expertise, a delivery focused mindset and a flexibility in problem solving. We are proud of the close partnership that we have built together and that led us to this joint success.”
Infosys made a comprehensive suite of services on MX.3 available to Commerzbank. It carried out development, integration, testing and migration activities alongside go-live and aftercare support.
“We are delighted to collaborate with Commerzbank on their digital transformation journey towards a unified Murex platform for multiple asset classes. This consolidation has empowered Commerzbank to improve time to market, streamline operations, simplify the current technology landscape, promote standardization, and effectively manage regulatory changes while cultivating sustainable growth. This transformation has paved the way for future modernization and digitization of the bank,” said Infosys Executive Vice President and Global Head of Banking and Financial Services Dennis Gada.
Representatives from Commerzbank, Murex, TeamTek and Infosys highlighted the close collaboration between the four companies through the implementation process.
Commerzbank said it will continue to leverage MX.3 as it pursues strategic objectives. With a shared vision, all entities involved in Commerzbank’s journey are poised to explore new opportunities and deliver exceptional value.
