Finastra to support Banco de Mexico with FusionRisk as it safeguards the country’s financial system

London, UK, and Toronto, Canada, 23 June 2017 – Mexico’s central bank, Banco de Mexico, has selected Finastra to transform its legacy risk management platform. The central bank expects to deploy FusionRisk with the goal of enabling faster, more sophisticated risk analysis as ever-changing and volatile markets add new layers of complexity to effective risk management for Mexico’s financial system.

In evaluating various risk management solutions, Banco de Mexico found that FusionRisk from Finastra best suited its needs for a dynamic system capable of bringing greater speed and efficiency to risk management and reporting in a time of increasing global uncertainty.

The heightened profile of Mexico in world politics, coupled with events such as Brexit and the US election, places the region firmly on the world’s stage. Central bank activity and the ability to analyze and understand the financial impact of recent market events have become even more crucial. The growing size and complexity of the Mexican financial system highlighted Banco de Mexico’s need to advance its legacy risk management system.

Daily analysis of exposures, including scenario simulations, is an essential task to ensure financial and economic stability. The implementation of FusionRisk will help the central bank address stability concerns, reducing the time it takes to calculate daily value at risk (VAR).

“The role of central banks in analyzing, detecting and preventing high risk events impacting their country’s financial system is vital,” said Nadeem Syed, CEO at Finastra. “It takes powerful and reliable technology to tackle these challenges and create an environment where fast and sophisticated risk analysis becomes par for the course. We are well placed to support the needs of Banco de Mexico as it works to transform its architecture and safeguard the Latin America region with a next-generation risk infrastructure.”

FusionRisk uses a “top down” approach to risk management that provides an entity-, subsidiary- and trader-level view of exposures, along with sophisticated analytics, to help banks meet the rising demands of regulators, shareholders and boards for transparency. Working alongside existing IT investments, FusionRisk helps institutions focus more on cost control and productivity gains.

For further media information please contact:

Caroline Duff
Senior PR Manager, Finastra
T: +44 (0)20 3320 5892
E: caroline.duff@finastra.com

Patrick Kilhaney
Public & Analyst Relations Manager, Finastra
T: 917-286-1053
E: patrick.kilhaney@finastra.com

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