Calypso Technology Provides Front to Back Solutions to Grupo Aval

Calypso Technology, a cloud-enabled provider of cross-asset front-to-back solutions and managed services for financial markets, announced that it has partnered with Grupo Aval, the largest financial corporation in Colombia, to offer front-to-back solutions to two of its Colombian subsidiaries: Financial Services provider, Corficolombiana and Pension Fund, Porvenir.

Grupo Aval selected Calypso as their strategic transformation partner to effectively scale treasury and derivatives operations across the group, leveraging a common platform. The project will provide a strong foundation to support the group's anticipated growth over the next decade.

Grupo Aval aims to automate and standardize processes, with Calypso covering both sell-side and buy-side requirements in one single cross asset, front to back trading and investment management solution.

Didier Bouillard, CEO of Calypso Technology, commented: “We are delighted to partner with such a prestigious organization in Latin America. We are committed to delivering a world-class, yet localized sell-side and buy-side solution. Our goal is to support Grupo Aval's growth strategy and to enable them to receive maximum value across the group.”

“The growth of our investment management business in Colombia due to the immense responsibility with our customers required us to look for a new solution, that would help us rationalize and significantly enhance our processes,” Porvenir CIO, Alonso Angel said. “Calypso's track record in the institutional business coupled with the possibility to build our business over a group-wide platform were essential to our choice.”