RHB Bank goes live on Murex’s MX.3 platform
01 March 2019 Kuala Lumpur
Image: Shutterstock
RHB Bank Berhad (RHB Bank), a Malaysian financial services group, is now live on Murex’s MX.3 to meet its Islamic and financial needs in the Association of Southeast Asian Nations region.
RHB Bank selected MX.3 to support the demand for more hedging and investment products for its growing client base and to navigate the changing regulatory landscape.
Following the go live on MX.3, RHB Bank can now trade structures, introduce new products to the market faster and eliminate time-consuming manual processes.
By moving from multiple systems to a single platform, the bank has also been able to introduce standardisation of its processes across entities, reduce infrastructure and operational costs.
Guy Otayek, head of Murex Asia Pacific, commented: “As the Asian markets continue to evolve, we are very happy to be partnering with the RHB Banking Group, giving them the software and support they need to meet future regulatory demands and harness the latest technology.”
He added: “This go live is a great example of how IT transformation can open new paths for business growth and we look forward to working with RHB Bank and other banks in the region on future projects.”
Mohd Rashid Bin Mohamad, group treasurer, group treasury and global markets at RHB Banking Group, said: “When we embarked on this project, we were looking for a scalable solution to drive business growth, improve pricing and risk management capabilities and reduce cost with operational efficiency.”
He added: “With Murex’s MX.3, we can achieve these three goals with one platform. We also realised at the onset the importance of having a good core working team and thereby picked the relevant experienced representatives across the various functional areas to champion the implementation.”
RHB Bank selected MX.3 to support the demand for more hedging and investment products for its growing client base and to navigate the changing regulatory landscape.
Following the go live on MX.3, RHB Bank can now trade structures, introduce new products to the market faster and eliminate time-consuming manual processes.
By moving from multiple systems to a single platform, the bank has also been able to introduce standardisation of its processes across entities, reduce infrastructure and operational costs.
Guy Otayek, head of Murex Asia Pacific, commented: “As the Asian markets continue to evolve, we are very happy to be partnering with the RHB Banking Group, giving them the software and support they need to meet future regulatory demands and harness the latest technology.”
He added: “This go live is a great example of how IT transformation can open new paths for business growth and we look forward to working with RHB Bank and other banks in the region on future projects.”
Mohd Rashid Bin Mohamad, group treasurer, group treasury and global markets at RHB Banking Group, said: “When we embarked on this project, we were looking for a scalable solution to drive business growth, improve pricing and risk management capabilities and reduce cost with operational efficiency.”
He added: “With Murex’s MX.3, we can achieve these three goals with one platform. We also realised at the onset the importance of having a good core working team and thereby picked the relevant experienced representatives across the various functional areas to champion the implementation.”
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