Finastra and Uni Systems extend collaboration to enable financial institutions to meet new risk management regulation

March 16, 2023
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Finastra and Uni Systems have extended their partnership to help financial institutions in the Adriatic, Central and Southeast Europe regions comply with the Basel Committee’s Fundamental Review of the Trading Book (FRTB) reporting requirements, effective in 2025. Under the new agreement, Uni Systems can offer its customers Vector Risk’s Trading Book Market & Credit Risk Solution, via Finastra’s FusionFabric.cloud and hosted on Microsoft Azure, for cloud-based automation of credit and market risk calculations in the trading book.

The FRTB is a comprehensive suite of rules proposed by the Basel Committee on Banking Supervision (BCBS) that capital banks must hold against market risk exposures. It expands the current market risk framework to ensure that internal models used by banks to calculate capital requirements efficiently cover risks, and to simplify comparisons of risk-based capital ratios across banks.

“Complying with regulations such as the FRTB is a big undertaking for banks, particularly when timeframes are tight and IT systems cannot support the necessary changes,” said Benoit Riquet, CPO, Treasury & Capital Markets at Finastra. “By partnering with Uni Systems and offering Vector Risk’s solution via our platform, more banks will benefit from ongoing upgrades and regulatory compliance, quickly, with reduced project risk and without the need for new IT infrastructure.”

Trading Book Market & Credit Risk is a SaaS solution providing out-of-the-box connectivity with Finastra’s treasury and capital market solutions, standard market data packages and institutions’ internal data. It automates the standardized approach for counterparty credit risk (SA-CCR), Value at Risk (VaR), Potential Future Exposure (PFE), credit valuation adjustment (CVA) and others that will follow. Uni Systems provides strategic guidance, project management and technical execution.

“Vector Risk’s solution on Finastra’s platform enables institutions to easily comply with market and credit risk regulations, while improving their regulatory and internal reporting metrics,” said Constantine Serros, Banking & Financial Services Business Unit Director and BoD member at Uni Systems. “Seeing this compliance need coming, we decided to further extend our partnership with Finastra to enable our customers to take complete control, with a cost-efficient cloud-based solution that automates the calculations of risk measurements which demand a unique data workflow.”

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world’s top 100 banks. For more information, visit finastra.com

About Uni Systems

Uni Systems, a long-standing strategic ICT partner to financial institutions, public organizations, telecom operators and enterprises in the European region, has been providing integrated solutions and value added services since 1964. Today, the Company invests substantially in its European perspective and demonstrates a proven track record of accomplishments in complex and mission critical IT projects in more than 26 countries through its subsidiaries in Belgium, Romania, Luxembourg, Italy, and Spain.  For more information, please visit www.unisystems.com

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