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Leading Singaporean bank migrates from Murex Mx. 2.11 to Mx.3.1

Challenge

Leading Singaporean bank used Murex Mx. 2.11 as a front and back office solution for its trading platform. The bank sought to upgrade to MX.3.1 to upgrade for end to end trade life cycle, new products and pricing methodologies. The Bank had 4000 reports across 5 different sub systems and wanted to upgrade to Mx. 3.1 to reduce operational cost. The bank also wanted to redesign Reports to improve performance.

Solution

As a strategic partner of Murex, Mindtree was ideally suited to undertake the upgrade and associated challenges. A 20-member Mindtree team analyzed the MXG components and evaluated the impact of migrations involved in the project. During the 2 year project, the team migrated 4000 Reports from 5 different sub systems successfully. It aligned with the Bank’s vision and objectives and delivered the project as per the schedule and by sharing reports regularly with Murex, which closely monitored the project.

Results

With Mindtree’s expertise in Murex upgrades, the bank gained easy maintenance and use of the latest Mx.3.1 technology. Performance gain in reports increased to 40% and operational cost reduced by ~ 45% YoY.