Renaissance Capital Goes Live on Calypso
- 30.09.2015 01:00 am
Calypso Technology Inc., the standard for treasury and capital markets software, has successfully deployed its award-winning solution at leading emerging and frontier markets investment bank Renaissance Capital as a strategic cross-asset back-office solution for the bank's client and proprietary operations.
The project was divided into several phases to provide increased automation and operational consolidation, while integrating the Calypso platform into Renaissance Capital's existing IT landscape as a sound foundation for future business lines.
"The decision to upgrade our back-office operations was driven by rapidly increasing trade volumes which necessitated greater automation and coordination of back office tasks," commented Vladimir Gibenko, Renaissance Capital's Chief Information Officer.
The Calypso platform was selected on the basis of its seamless end-to-end processing across multiple asset classes and ability to replace a number of existing legacy systems.
"Given Renaissance Capital's expansion, it was vital we had a proven solution that could be easily implemented for current needs and expand to meet future growth objectives," added Iraida Sergienko, Renaissance Capital's Global Head of Operations.
As of now Calypso has been used at Renaissance Capital as a main back-office system for almost a year. Calypso processes up to 500 K transactions per day across all aspects of back-office functionality. This includes client accounting, which was fully customized for the Russian market. During this period of time the Firm not only started using all the functionality in its production environment, but also implemented new business requirements such as MENA markets.
Calypso's Executive Chairman, Charles Marston, said: "We are delighted that Renaissance Capital has successfully implemented the Calypso solution across its back-office operations globally. The emerging markets, including Russia and the CIS, are strategic for Calypso, and we continue to invest in these regions to provide solutions that package market best practices in conjunction with local conventions."