Mexico-based Banorte has partnered with Murex to enhance its FX derivatives trading client services.
As part of the mandate, the service will be powered by MX.3 via Murex’s integrated platform.
By utilising the platform, clients can perform FX derivatives transactions by integrating MX.3 with an internal banking portal, Cambios Banorte en Línea (CBL). The back end of MX.3 facilitates complete self-service functionality to these clients.
The software integration has eliminated the need for manual captures, while operations have been streamlined and error and delay risk has been reduced, says Banorte.
Abraham M. Izquierdo, managing director of traded and treasury risks at Banorte, says: "One of the most significant milestones has been the self-service product offering. This offering aligns closely with Banorte's digital strategy and meets the specific expectations of our client base."
Joe Iafigliola, co-head of Murex America, comments: “Murex and Banorte have worked together to develop a solution that meets the precise needs and requirements of these clients. Once involving manual interventions and reconciliation efforts, Banorte can now fully automate and digitise the process.”
