Banorte transforms with Murex’s MX.3, introducing self-service for corporate clients, marking a significant digital milestone.

Grupo Financiero Banorte, a Mexican bank, is implementing a self-service through Murex’s integrated platform MX.3, in an effort to bolster its corporate clientele and further its digitalization plan.

Abraham M. Izquierdo, managing director of trading and treasury risks at Banorte, stated that “many breakthroughs have been involved in the Banorte transformation journey.” “However, one of the most significant milestones has been the self-service product offering. This product satisfies the unique needs of our clientele and is in line with Banorte’s digital strategy.

The purpose of Banorte is to enable its clients to undertake FX derivatives transactions by combining MX.3 with an internal banking platform, Cambios Banorte en Línea (CBL). The back end of MX.3 allows comprehensive self-service functionality to these clients, which see greatly increased FX derivatives trading process efficiencies.

The bank has modified its internal operations and risk management protocols to align with the self-service product that is being provided to customers. The group led by Banorte adjusted and gained knowledge to handle the change.

With MX.3 software integration, manual captures are no longer necessary. Operations have been more efficient as a result, and the chance of errors and delays has decreased. Banorte allocates resources more effectively through automation, saving up to 38% of person-hours for the associated users.

Adjusting to evolving markets


In order to improve client services for FX derivatives trading, Banorte offers competitive market rates and a seamless trade booking process. MX.3 helps the bank’s clients to function at pace with ever-changing market circumstances.

“Banorte corporate clients demand automated and faster end-to-end booking of financial products for their enterprise needs,” said Murex Americas co-head Joe Iafigliola. Together, Murex and Banorte have created a solution that precisely satisfies their clients’ needs and specifications.

“The process, which previously required manual interventions and reconciliation efforts, can now be fully automated and digitalized by the bank.” Every day at Murex, we see this dedication demonstrated at every stage of Banorte’s operations. Once again, we are proud of our part in reaching this milestone as a dependable partner.

In order to better reflect the collaborative and interconnected nature of the trading derivatives process, the bank brought together a number of functional groups inside the bank, including the FX and structuring desks, internal IT teams, sales, compliance, credit, and risk teams. The client services experts at Murex provided design validation, made recommendations for best practises, and worked as a reliable team throughout the implementation process.

Banorte and Murex have a 12-year history of collaboration. Banorte has increased MX.3 utilisation over this time, including new modules and asset class coverage. In 2022, Banorte rebuilt its PFE limitations management and constructed an entirely new XVA desk. It selected Murex to help its front office and risk departments.

The effective cooperation between the two businesses will be essential to using MX.3 capacities and the product portfolio to extend the digitalization approach to other asset classes.

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