Novobanco and Nasdaq have expanded their technology partnership, wherein Novobanco will expand its use of Nasdaq’s Calypso platform to support the bank’s entire capital market operations.
The Portuguese independent domestic bank has used Nasdaq’s solution to conduct back-office processing for nearly 20 years, with the latest move set to see the bank incorporate its risk and front-office functionality to fully integrate the technology underpinning its treasury function.
“Consolidating our treasury function onto a single platform marks another major step in our journey to position ourselves as an independent, strong, and successful Portuguese bank,” said Nuno Duarte, head of treasury and finance at Novobanco.
“By streamlining our infrastructure and enhancing the efficiency of our operations, we are better positioned to deliver a more personal, customer-centric experience to our clients, while supporting sustainable growth. We welcome the opportunity to expand our relationship with Nasdaq and view them as a strategic partner in our transformation.”
Nasdaq Calypso is a global, multi-asset trade management platform which claims to streamline trading, clearing, risk management, and post-trade processing.
Through the adoption of the solution, Novobanco expects to enhance its operational efficiency and agility, leveraging the technology to support its evolving business needs.
Nasdaq Calypso currently supports Novobanco’s treasury workflows, spanning trade settlement to payment and accounting processes.
The expanded use of the solution to include front-office and risk functions is expected to enhance flexibility and scalability, to create an efficient, integrated system aligned with industry best practices.
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“European banks are on an extraordinary modernisation journey and the decision to consolidate Novobanco’s capital markets infrastructure underscores the bank’s commitment to innovation and superior client services,” said Gil Guillaumey, senior vice president of capital markets technology at Nasdaq.
“Through this partnership, Novobanco gains the flexibility and scalability required to meet new industry standards, navigate regulatory changes, and capitalise on new growth opportunities. This marks a significant milestone in the bank’s ongoing transformation.”