20 Sep Banco BICE solidifies Calypso investment, adopts its Front-to-Back platform
London, New York – 20 September 2021:
Adenza, the new company formed by the merger of Calypso Technology and AxiomSL to provide customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms, today announced that Banco BICE has significantly strengthened its investment in Adenza’s Calypso platform by choosing and implementing the second phase of the project with a number of additional modules.
In 2018, Banco BICE, a major Chilean Bank launched a key transformational project to replace incumbent technology for its capital markets business with a new, future-proof, consolidated cross-asset platform.
Specific target objectives of Banco BICE, when selecting Adenza’s Calypso platform included improving value offering to investors, bridging the manual process gap, speeding up the introduction of new products and significantly reducing operational risks and costs. With the first phase of the project successfully accomplished, including the implementation of Adenza’s Calypso Collateral Management and Clearing solution, Banco BICE can now focus on further expanding its transformation program to front to back, cross asset trading and risk management.
To achieve its initial strategic goals, Banco BICE is extending its usage of Adenza’s Calypso platform capabilities, which further demonstrates the strength of Adenza’s Calypso award-winning front to back offering.
“We are delighted with the highly successful implementation of Adenza’s Calypso solution at Banco Bice. Despite the uncertainty caused by COVID-19, it is extremely encouraging to see Banco BICE continuing to make long-term investments that will position them strongly for years to come. Latin America is a strategic market for Adenza, with a number of new client signings recently confirming our strong positioning. We now operate through three offices in the region where we continue to invest to provide leading global solutions adapted to local market conditions and conventions.”
– Luis Gustavo Penteado, Head of Sales South America at Adenza
“We are very excited about the Adenza’s Calypso implementation process since it will allow us to address a front-to-back business solution. Also, it is a cutting-edge technology we can rely on to deliver more efficient, highly developed, and better-quality products for our clients.”
– Marcelo Espinoza, Treasury Director, Banco BICE
Adenza provides customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms which can be delivered on-premise or on-cloud. Adenza enables financial institutions to consolidate and streamline their operations with front-to-back solutions integrated with data management and reporting, benefitting from a single source of truth across the business.
With headquarters in London and New York, Adenza has more than 60,000 users across the world’s largest financial institutions spanning global and regional banks, broker dealers, insurers, asset managers, pension funds, hedge funds, central banks, stock exchanges and clearing houses, securities services providers and corporates.
About Banco BICE
Banco BICE is a Chilean Bank that provides general banking and investment services such as deposits, credit accounts, lease financing and insurance services; manages mutual funds and investments, advises on mergers and acquisitions, privatizations and public offerings, and offers securities brokerage services.
Banco BICE was established in 1979 with its headquarters in Santiago, Chile, and serves private, corporate, and institutional clients in the country today.
© 2021 Adenza. All rights reserved.
Herve de Laforcade
Global Head of Marketing, Calypso Technology