Abraham M. Izquierdo

Banorte partners with Murex

November 2023 in News Headlines

Grupo Financiero Banorte has enhanced its FX derivatives trading client services, powered by MX.3, Murex’s integrated platform. The leading Mexican bank implemented a self-service to strengthen its corporate client business and further its digitalization strategy. The goal of Banorte is to enable these clients to perform FX derivatives transactions by integrating MX.3 with an internal banking portal, Cambios Banorte en Línea (CBL). The back end of MX.3 facilitates complete self-service functionality to these clients, which experience significantly improved FX derivatives trading process efficiencies. “The Banorte transformation journey has involved many breakthroughs,” said Abraham M. Izquierdo, managing director, traded and treasury risks at Banorte. “However, one of the most significant milestones has been the self-service product offering. This offering aligns closely with Banorte’s digital strategy and meets the specific expectations of our client base.” Banorte and Murex have a 12-year history of collaboration. Banorte has expanded MX.3 use over this time, incorporating new modules and asset class coverage. In 2022, Banorte built a completely new XVA desk and revamped its PFE limits management. It chose Murex to support its risk and front office teams.