Riyad Bank has selected Calypso Technology to provide treasury operations and structured product front-to-back-office support.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Riyad Bank will change from a process based operating model to a more efficient exception-based one, improving its straight-through-processing (STP) rate. Further, the bank will align its treasury operations with international and Islamic financial industry standards.
Calypso stated that it will support the cross-asset requirements of the bank’s business covering its FX (cash and derivatives), money market, interest rate derivatives, fixed income and commodities (including precious metals and derivatives) operations.
Riyad Al-Zahrani, executive vice president of operations at Riyad Bank, said: "It was important for us to select a vendor that would deliver industry best practices, front-to-back-office support for structured products and cross-asset capabilities as well as the Shariah-compliant support that is critical for our market and for growing the business regionally.
"We went through a robust selection process during which Calypso outperformed other solutions in areas of functionality, flexibility and technology," added Al-Zahrani.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
