IT services major Infosys on May 28 announced that it collaborated with Commerzbank, a German bank, and Murex, the global leader in trading, risk management and processing solutions for capital markets, on a successful go-live of a consolidated, unified trading platform that streamlines the bank’s business processes and IT landscape.
This joint project has enabled Commerzbank to consolidate FX, FX derivatives, equity, and commodities onto Murex’s integrated MX.3 platform.
Through this collaboration, Commerzbank’s trading operations saw improvements. It also helped in the simplification of their tech-based services and reduced cost of managing multiple servers and platforms, Infosys said in a statement.
Within the project, Infosys said that it has supported Commerzbank in optimizing utilization of Murex's comprehensive suite of solutions and services and carried out development, integration, testing & migration, alongside go-live and aftercare support.
Commenting on the collaboration, Sebastian Kauck, CIO Corporate Clients, Commerzbank, said, "Throughout this project, the collaboration of our internal teams with Murex, Infosys and other external partners has always been an integral part to its success. The new setup enables Commerzbank to significantly enhance process efficiency and simultaneously reduce costs. Additionally, it lays the foundation for future business growth as adapting to market changes can be done more swiftly.”
“Murex is proud to support Commerzbank in this model simplification journey,” said Luc Testud, Murex Managing Director, Central Europe. “This creates the opportunity for future expansion through an integrated cross-asset platform, accelerating time to market to innovate and enabling further steps of digitalization," Testud added.
Dennis Gada, Executive Vice President, and Global Head of Banking & Financial Services at Infosys, said, “This consolidation has empowered Commerzbank to improve time to market, streamline operations, simplify the current technology landscape, promote standardization, and effectively manage regulatory changes while cultivating sustainable growth."
Meanwhile, shares of Infosys on May 28 closed 0.37 percent lower at Rs 1,466.20 apiece on BSE.
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