Banorte Partners with Murex on FX Derivatives Trading Solutions, Bank Digitalization

Murex, the global leader in trading, risk and processing solutions for capital markets, has teamed up with Grupo Financiero Banorte (Banorte), one of the largest commercial banks in Mexico and the largest retirement fund administrator in the country. 

Banorte and Murex have a 12-year history of partnership.

In this new collaboration, Banorte integrates MX.3, Murex's banking technology platform, with an internal banking portal, Cambios Banorte en Línea (CBL), in order to enable corporate clients to perform FX derivatives transactions and drive its digitalization strategy.

The back end of MX.3 facilitates complete self-service functionality to corporate clients, who will experience significantly improved FX derivatives trading process efficiencies.

"The Banorte transformation journey has involved many breakthroughs," said Abraham M. Izquierdo, managing director, traded and treasury risks at Banorte. "However, one of the most significant milestones has been the self-service product offering. This offering aligns closely with Banorte's digital strategy and meets the specific expectations of our client base."

"Banorte corporate clients demand automated and faster end-to-end booking of financial products for their enterprise needs," said Murex Americas Co-head Joe Iafigliola . "Murex and Banorte have worked together to develop a solution that meets the precise needs and requirements of these clients. Once involving manual interventions and reconciliation efforts, Banorte can now fully automate and digitize the process. At Murex, we witness this commitment through every level of Banorte's organization every day, and we take pride once more in our role as a trusted partner in achieving this milestone."

In May, Fazzaco reported that Murex's integrating MX.3 platform can be connected with the London Stock Exchange Group (LSEG) Real-Time – Optimized solution​ when MX.3 is hosted on Amazon Web Services.