novobanco Expands Partnership with Nasdaq Calypso to Streamline Capital Market Operations
15 JAN, 2025
By Jose Luis Palmer from RankiaPro Europe
novobanco, Portugal’s fourth-largest bank, has announced the expansion of its technology partnership with Nasdaq (Nasdaq: NDAQ). The bank will now adopt Nasdaq Calypso’s Front Office and Risk platform, fully integrating its capital market operations under a single, cloud-based system.
A Step Forward in Treasury Modernization
For nearly two decades, Novobanco has relied on Nasdaq Calypso for its back-office processing. The recent decision to incorporate the platform’s risk and front-office capabilities reflects the bank’s commitment to enhancing operational efficiency, flexibility, and scalability.
Consolidating our treasury function onto a single platform is pivotal in positioning novobanco as an independent, strong, and successful Portuguese bank.
By streamlining infrastructure and improving efficiency, we are better equipped to offer a more personal, customer-centric experience while supporting sustainable growth. We welcome the opportunity to expand our relationship with Nasdaq and view them as a strategic partner in our transformation.
Nuno Duarte, Head of Treasury and Finance at Novobanco.
Benefits of Nasdaq Calypso Integration
Nasdaq Calypso is a multi-asset trade management platform that streamlines trading, clearing, risk management, and post-trade processes. With this expanded partnership, Novobanco will gain access to a range of benefits:
- Cloud Deployment: Enhances scalability and flexibility to adapt to evolving market demands.
- Real-Time Decision-Making: Live pricing and risk analytics improve transparency and operational agility.
- Centralized Data: Standardized APIs ensure seamless global market connectivity and enable centralized oversight of trading activities.
- Efficiency Gains: Automation reduces manual processes, improves resilience, and creates a consistent user experience.
European banks are on an extraordinary modernization journey and the decision to consolidate novobanco’s capital markets infrastructure underscores the bank's commitment to innovation and superior client services. Through this partnership, novobanco gains the flexibility and scalability required to meet new industry standards, navigate regulatory changes, and capitalize on new growth opportunities. This marks a significant milestone in the bank’s ongoing transformation.
Gil Guillaumey, Senior Vice President of Capital Markets Technology at Nasdaq.
Supporting Novobanco’s Transformation Strategy
This partnership aligns with Novobanco’s broader transformation strategy, which focuses on:
- Client-Centric Operations: Simplifying the customer experience through streamlined and efficient processes.
- Operational Excellence: Reformulating the bank’s operating model and IT governance to enhance overall efficiency.
- Regulatory Compliance: Meeting evolving regulatory requirements through advanced technology and data governance.
The expanded Calypso platform will allow Novobanco to:
- Integrate treasury workflows across front office, risk management, and back-office functions.
- Provide real-time insights to improve decision-making across asset classes.
- Ensure compliance with regulatory changes in a rapidly evolving financial landscape.
Nasdaq’s Global Reach and Expertise
Nasdaq’s technology supports:
- 97% of global systemically important banks.
- Half of the world’s top 25 stock exchanges.
- 35 central banks and regulatory authorities, as well as over 3,500 financial clients.
Nasdaq’s extensive experience in cloud-managed services and capital markets technology ensures its solutions meet the needs of forward-thinking banks like Novobanco.
Looking Ahead
The integration of Nasdaq Calypso’s advanced capabilities marks a milestone in Novobanco’s transformation journey, reinforcing its position as a modern, independent, and customer-focused bank. By leveraging cutting-edge technology, Novobanco aims to deliver superior services while adapting to the dynamic financial landscape.
