Gulf Bank launches MX.3 treasury management system with Murex
KUWAIT: Gulf Bank has successfully launched the MX.3 integrating platform in collaboration with Murex, the global leader in trading, risk management and processing solutions for capital markets.
The platform implementation is a transformative step for Gulf Bank as it develops and automates its treasury and capital markets systems. The MX.3 platform provides a robust technological infrastructure that meets evolving capital markets and regulatory requirements. The platform enables a seamless workflow across front-to-back-to-risk management and processing. “At Gulf Bank, we seek to make the most of our digital transformation journey, transforming the institution into a fully integrated digital bank that will not only live up to, but exceed, the aspirations of customers, now and in the future,” said Gulf Bank General Manager of Treasury Sami Mahfouz. “To achieve this, Gulf Bank is creating a sophisticated, modern treasury platform that caters to customers’ needs for a full treasury trade cycle, in addition to seizing the extraordinary opportunities available to diversify and expand the Bank’s operations. Throughout the process of working on the launch of the new platform, we were so proud to have witnessed such a great embodiment of the culture of teamwork that characterizes Gulf Bank.
“At Gulf Bank, having the utmost confidence in our technological partners is key,” Mahfouz added. “As a leading treasury and capital markets management systems provider, Murex is in a league of its own. We have no doubt that our launch of Murex’s platform will improve our business model, which is based first and foremost on customer satisfaction, and will boost operational excellence to new levels across the Bank’s sectors. Despite the pandemic and the challenges of working remotely, Gulf Bank’s Treasury Department worked aroundthe-clock with its partners to make this transition a resounding success. I would like to take this opportunity to thank Murex for its professional partnership and for the continuous efforts expended to ensure Gulf Bank’s success.”
The integrating platform will enable Gulf Bank’s Treasury Department to benefit from synergies in connected functions, organization modeling, trade repository, workflow dashboards, in-depth reporting, automated triggers, and real-time monitoring of positions and risks. This Gulf Bank initiative is the latest stage of its journey to meet the challenges of the future and provide only the best banking solutions. The new platform will disrupt and break the silos associated with complex legacy systems, enabling Gulf Bank stakeholders to innovate. Gulf Bank’s new treasury management system will help the bank to keep pace with change and regulations, navigating capital markets and better serving customers, while improving efficiency, reducing costs, and instilling greater control over trade aspects from initiation to final matching.
“We are proud to be part of this exciting transformation project with Gulf Bank,” said Philippe Helou, managing partner and co-founder at Murex. “Murex has a long history of partnering with financial institutions to accompany the transformation from legacy systems to modern technology that puts these institutions in the best position to navigate the changing capital markets.”