London-based Europe Arab Bank (EAB), a wholly-owned subsidiary of Arab Bank, has gone into production with Open Link Financial’s Findur application for its treasury and capital markets businesses. Open Link Financial is a provider of cross-asset trading, risk management and operations processing software solutions.
Antoine Srieh, Managing Director at EAB, said: “We wanted to have a fully automated trade processing capability for all of our current asset classes, including foreign exchange, money markets, fixed income, loans and deposits and their associated derivatives.”
“With Findur, we have been able to replace a number of legacy systems with one streamlined application used by over forty users in our front, middle and back offices. In one platform, we have the ability to manage market, credit, and operational risk as well as regulatory and head office reporting while being fully integrated into automated trading and settlement systems,” he added.
Ken Knowles, Executive Vive President of Financial and Risk Solutions at OpenLink, said: “Running three different systems – one for trading, one for risk, and one for processing – may not be a sensible approach. Reconciling information between different systems is not only costly and time consuming – it’s completely unnecessary when you can have an integrated solution.”
Jean-Claude Riss, Managing Director, OpenLink, said: “Lowering cost of ownership is one of our primary software design considerations. Firms can achieve huge operational benefits and cost savings when the software facilitates the organization’s desired workflows, rather than forcing the client to adapt to the software.”
