Challenge
The Singaporean bank acquired Hong Kong based bank, which was using the legacy system for its trading platform. It became difficult for the Singaporean Bank in getting the consolidated MIS reports and experiencing numerous operational and functional issues. So it wanted the Hong Kong based bank to migrate into Murex.
Solution
The bank chose Mindtree to upgrade to Murex from the legacy platform. Mindtree experts conducted a detailed gap and impact analysis of the legacy system and Murex and identified 150 reports to be migrated including MxML Exchange workflows. All these 150 reports has been migrated and integrated with the Banks existing Murex trading platform. The project was time bound and was completed successfully and went live as per the agreed schedule.
Results
This migration reduced the operational cost and improved efficiency by having a centralized trading platform. Due to this consolidated financial MIS reports, the bank was able to do the reconciliation much easier.
