Societe Generale has deployed Finastra’s Fusion Risk Asset and Liability Management (ALM) and Fund Transfer Solutions (FTP).
The move has enabled the bank to streamline multiple solutions across the group, Societe Generale revealed.
According to Societe Generale, this will simplify its infrastructure so that it can comply more efficiently with regulations including interest rate risk in the banking book, and also reduce costs.
The solutions are already live at Societe Generale Banque De Détail France and Crédit du Nord, and European branches will follow in the coming months. The bank expects to roll out the solution globally in time.
Societe Generale already benefits from Finastra’s treasury and capital markets, lending, retail banking, and trade finance software.
Arnaud Picut, global head of risk practice at Finastra, 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’s portfolio is a 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.”
Picut added: “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.”
