Norddeutsche Landesbank goes live with new version of Murex’s MX.3
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Norddeutsche Landesbank goes live with new version of Murex’s MX.3 05 September 2023Germany Reporter: Jenna Lomax
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German bank Norddeutsche Landesbank (NORD/LB) has gone live with a new version of Murex’s MX.3 platform.
NORD/LB capital markets activity relies on the MX.3 platform for back-office services, including collateral and accounting.
It also utilises the Murex's front-office capabilities which include enterprise risk management for limit control, credit risk and stress testing.
By upgrading its MX.3 installation, NORD/LB sought to primarily protect itself against technical deprecation and issues related to third-party components.
NORD/LB says that utilising MX.3’s platform reduces time-to-market for new products or regulations, removes operational risk related to IT manual and repetitive tasks, and maximises velocity with predictability and traceability.
NORD/LB’s adoption of the newest MX.3 version is also part of an effort to improve operations resiliency concerning the DORA regulation.
NORD/LB’s financial markets programme manager Joachim Grimme says: “The implementation of the continuous integration is a major milestone for the NORD/LB financial markets platform and supports our business strategy and related Murex projects.”
Hadi Abi-Tayeh, project director at Murex, says: “Using the Murex continuous integration toolchain allowed NORD/LB to automate the conversion activities required for the upgrade and eliminated operational risks. It is a big success for the bank and validates the strategic decision to progressively adopt continuous integration tools and methodology.”
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