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Financial institutions and capital market firms increasingly look for ways to rationalize and reduce their cost of operation. To create an effective and efficient technology infrastructure, financial institutions must consider the manageability of sensitive data. Leveraging their Murex and other solutions to cloud empowers them with the ability to adapt technology and services in a timely fashion. Collaboration and innovation in technology can be achieved with the digitalization trends consequently challenging the businesses towards a substantial growth. Murex, being the global leader in trading, risk management and, processing solutions for financial institutions and capital market firms has realized the need to equip a more flexible and agile approach for project delivery. The collaboration of Murex with cloud brings tremendous agility to clients and also enables benefits from further improvements such as quality, time-to-market, predictability and flexibility.

Advantage of Cloud Adoption

Murex continually enhances its platform to ensure relevance for its customers. The move by Murex to enable its customers to leverage the flexibility and economies of scale offered by cloud is a step in this direction.

Moreover, Murex digitalization helps slash the project timelines and regression testing cycle, thus delivering higher quality functionality to the business much faster. Also, by taking advantage of emerging technologies like Big Data and Analytics, customers can leverage technologies like Machine Learning to identify patterns in their data that lead to compliance challenges, important decisions, predictions, calculations and resolving issues in real-time. This drives significant innovation and allows businesses to outperform. Organizations can gain a 360° view of the customer, offering different ways to intensify customer ties through the digital transformation.

Insights and Challenges

Solutions based on cloud allow for robust disaster recovery options with the slightest dependency on manual intervention and technical expertise. Automation of the processes and on-demand allocation of resources enables the system to be immensely productive.

At the same time, it is difficult to convert a large up-front capital expenditure into a smaller ongoing infrastructure cost. It is painful to provision or de-provision the environments, which disallows companies to manage concurrent projects and evolve the platform. Organizations that understand the need for standardization are the ones transforming themselves to be more responsive with cloud-based operating models. Standardization is the driver to both increased business agility, and to become more efficient from an OPEX (Operating Expense) perspective.

Managing computational speeds of the resources is burdensome for companies because of tough and complex algorithms and growing customer demands. A combination of Murex with cloud for its most demanding use cases including GPU (Graphics Processing Unit)-powered solutions for computationally intensive workloads enables clients to leverage the flexibility and economies of scale of the cloud to meet new requirements.

Financial institutions are often faced with multiple regulatory requirements. To comply with new credit and market risk regulations such as Valuation Adjustments, Fundamental Review of the Trading Book (FRTB) and their hard security laws is a challenge for them. The FRTB addresses material weaknesses of the current market risk framework exposed by the financial crisis and aims to replace the existing regulation and harmonizes the treatment of market risk across national jurisdictions. A regulator defined by every nation is at a different stage with respect to their direction on public cloud use, and are worried about concentrating so much information in the hands of private players.

Why Mindtree is a preferred partner for your Digital Transformation?

Mindtree is fully committed to assist clients accelerate their transformation and always supports technology that is time to market for implementation, at the same time increasing the comprehensive agility and flexibility of the firms.

Digital transformation makes it model to stay updated on the latest technology trends that are shaping the corporate landscape to be on the front foot in the cutting-edge competition. In order to fully exploit this potential, Mindtree can be your partner with the right expertise on-board in areas such as Big Data, Cloud (on Both Azure and AWS), Digital, DevOps and other emerging technologies. Our wealth of project experience and exposure to leading technology offers a practical front-line experience in production. Mindtree’ s digital strategy framework expertise will guide you through the maze of device proliferation and show you how to leverage data that can be easily integrated with their existing IT infrastructure for a more efficient workforce, faster time-to-market and richer customer experience.

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About the Author

Nannapaneni Niharika
Engineer

Niharika works as a Software Engineer and has played the role of a Murex Consultant, being part of the BFSI practice.

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