CajaSur, Spanish building society, has selected Misys to install its ALM and Basel II solutions, replacing its current ALM application in an effort to bring the Cordoba-based group in line with Basel II requirements.
CajaSur is preparing to enhance its ALM functionality, and trying to align its banking systems with Basel II compliance, as both applications share the same platform, data model and interfaces.
“The major benefit of the Misys Almonde platform is that we can implement the basic structure quickly and then add functionality as and when we need it,” a spokesperson from CajaSur said. “It gives us the flexibility we need and allows us to scale our ALM and Basel II capabilities as we grow.”
“Spain is a very important market for us, and we are pleased to be able to help CajaSur improve their ALM capabilities and at the same time prepare for Basel II compliance,” said Marco Knaap, director of sales and risk management of Misys. The banking systems provider has had offices in Madrid and Lisbon for over a decade.