Banco do Brasil London Branch Deploys CloudMargin Platform for Global Collateral Processing

Banco do Brasil London Branch Deploys CloudMargin Platform for Global Collateral Processing
07.03.2019 12:07 pm

Banco do Brasil London Branch Deploys CloudMargin Platform for Global Collateral Processing

Banking , Cloud

CloudMargin, creator of the world’s first and only collateral and margin management solution native to the cloud, today announced that Banco do Brasil in London, a branch of one of Latin America’s largest banks, has deployed the CloudMargin platform for its global collateral processing. The branch is now fully onboarded to CloudMargin, using the platform to process collateral for its over-the-counter (OTC) foreign exchange (FX) transactions, including FX forwards and cross-currency swaps. 

Prior to transitioning to CloudMargin’s platform, Banco do Brasil was using in-house solutions to manage its OTC collateral activity.

Banco do Brasil in London is the first client to use CloudMargin’s new internal portfolio model, enabling the bank to have a single ISDA Credit Support Annex (CSA) with its London branch and still allocate exposures globally across the bank’s head office and international branches. As with every CloudMargin enhancement, all clients have simultaneous access to the new functionality, and others are beginning to use it as well.

Juliano Marcatto, Deputy General Manager at the branch, commented: “Going live with CloudMargin went very smoothly. It has been a pleasure working with the team, which provided us with tremendous support throughout the on-boarding process. It’s a great improvement.”

CloudMargin CEO Steve Husk said: “We’re very pleased that our platform, with feature-rich functionality, integrates so well with the unique collateral processes at Banco do Brasil, giving the operations team substantially greater structure and control at an affordable cost. Our cloud-based solution is accessible globally, giving clients one shared view of their collateral data and real-time status of their workflow, enabling teams to increase their efficiency considerably. In today’s environment, using a spreadsheet based approach for collateral management is just not a viable, robust option for most firms.

Related News

FIME Launches Automated Open Banking API Testing Solution

FIME has announced the availability of TrustAPI, a fully automated test tool for open banking APIs. Banks and Third-Party Providers (TPPs) can now quickly verify APIs against... Read more »

Finleap Tackles the French Market and Announces the Recruitment of its Managing Director

Finleap, the largest fintech ecosystem in Europe, supported by leading investors such as Ping An (via its "Voyageur Fund"), continues its international expansion and... Read more »

CaixaBank Named Spain’s Best Bank 2019, Western Europe’s Best Bank for Corporate Responsibility and Western Europe’s Best Bank Transformation by Euromoney

CaixaBank has been selected as Spain’s Best Bank 2019, Western Europe’s Best Bank for Corporate Responsibility 2019 and Western Europe’s Best Bank Transformation 2019 by the... Read more »

Absa Group recognised as ‘Africa’s Best Transformation’ at Euromoney Awards for Excellence 2019

Absa Group has been named ‘Africa’s Best Transformation’ at the Euromoney Awards for Excellence 2019 held in London last night. 

The award recognises a... Read more »

N26 Launches in the US

Today, N26 is launching its banking app in the US. Starting in a staged rollout, the 100,000 customers on the US waitlist will be invited to sign up and have full access to the... Read more »

Changes in the Board of Managing Directors of Commerzbank AG

Commerzbank’s Supervisory Board has today appointed Roland Boekhout (56) to the Board of Managing Directors. Roland Boekhout, currently Member of the Management Board Banking... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel