Leading UK bank to embrace cloud
24 July 2014 London
Image: Shutterstock
A leading UK retail bank is to increase control and compliance with European Market Infrastructure Regulation (EMIR) reporting requirements through the automated collateral management technology platform, CloudMargin.
This is the first time a regulated bank has adopted cloud technology to realise significant cost-savings in collateral management.
The bank is using CloudMargin to manage collateral for their OTC derivatives and repo portfolios and comply with EMIR trade repository reporting obligations.
CloudMargin was selected to bring increased efficiency, control and insight to the bank’s OTC derivatives and repo portfolios and delivers state of the art capabilities at a fraction of the cost of traditional on-premise or application service provider solutions.
Furthermore, the onboarding was completed in well under a month, a timeframe previously unheard of in the collateral management industry.
Andy Davies, founder and CEO of CloudMargin said, “It is a great honour for CloudMargin to have been selected by a leading bank and reinforces our belief that the collateral management world demands cutting edge innovation and is increasingly rejecting outdated technology platforms to slash IT costs.”
This is the first time a regulated bank has adopted cloud technology to realise significant cost-savings in collateral management.
The bank is using CloudMargin to manage collateral for their OTC derivatives and repo portfolios and comply with EMIR trade repository reporting obligations.
CloudMargin was selected to bring increased efficiency, control and insight to the bank’s OTC derivatives and repo portfolios and delivers state of the art capabilities at a fraction of the cost of traditional on-premise or application service provider solutions.
Furthermore, the onboarding was completed in well under a month, a timeframe previously unheard of in the collateral management industry.
Andy Davies, founder and CEO of CloudMargin said, “It is a great honour for CloudMargin to have been selected by a leading bank and reinforces our belief that the collateral management world demands cutting edge innovation and is increasingly rejecting outdated technology platforms to slash IT costs.”
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