Brazil-based digital bank Banco Original has implemented cross-asset and treasury solution from OpenLink.
The technology vendor said that the solution will help the bank handle various financial products including LCAs, CDBs, and CDIs.
Transactions will be captured, processed and settled in the system with automatic client notifications, it added. The implementation of the new solution was completed in ten months.
The next phase of the project will include implementation of additional debt, treasury and derivatives instruments. This will allow customers to invest in multiple financial products such as money market, government bonds, debentures, swaps, derivatives and structured operations certificates (COEs).
Banco Original CIO Wanderley Baccala said: "As one of Brazil’s most innovative banks, our technology is critical to our client service and to our success, so we placed a lot of trust in OpenLink. We are delighted to see that trust paying off, following a quick implementation supported by OpenLink’s local team in São Paulo. We are already looking forward to the next phase of the project, which will expand the scope of financial products supported."
Banco Original, a subsidiary of Brazilian conglomerate J&F Group, serves customers in corporate, commodity, and retail areas. In 2013, the company started investing in the creation of an online bank, which is a 100% digital bank focused on retail customers.