Banque Internationale à Luxembourg (BIL) Selects Planixs to Provide Real-Time Intraday Liquidity Management Capabilities and Ensure BCBS 248 Compliance
Planixs, the leading provider of real-time, intraday cash, collateral and liquidity management solutions, has announced that Banque Internationale à Luxembourg (BIL) has selected its Realiti® software to transform the bank’s treasury operations and ensure it meets BCBS 248 regulatory reporting requirements.
Founded in 1856, Banque Internationale à Luxembourg (BIL) is the oldest multi-business bank in Luxembourg. The bank currently operates in retail, private and corporate banking, as well as on the financial markets. Employing more than 2,000 people, BIL is present in the financial centres of Luxembourg, Switzerland, Denmark, the Middle East and China.
With increasing regulatory pressure to comply with BCBS 248 requirements, BIL was looking for a solution that would provide the firm with increased visibility of its cash and liquidity and improve regulatory reporting processes, whilst also delivering enhanced stress testing capabilities.
Following a competitive tender process, Planixs was selected by the firm after the company demonstrated its functional capabilities and experience in implementing its real-time intraday liquidity software for banking organisations including Lloyds Banking Group, Barclays, Scotiabank, FirstBank, Zenith Bank and Bank Leumi.
Through Realiti’s real time treasury software suite financial services organisations can consolidate millions of cash flows per hour, in real-time, to ensure they have an accurate, up-to-date picture of cash balances across their settlement accounts, comparing projections to actual external balances, and are able to control liquidity requirements and usage in real-time.
Realiti helps firms to comply with global BCBS 248 regulatory requirements, including the UK PRA and European Banking Authority specific interpretations of intraday regulations. The solution also incorporates stress testing capabilities, allowing banking firms to apply a range of stress scenarios in order to understand, monitor and prepare to mitigate any intraday liquidity stresses and to help size liquidity buffers.
Neville Roberts, CEO of Planixs, commented: “We are thrilled Banque Internationale à Luxembourg chose Realiti to address its needs across BCBS 248 regulatory compliance and real-time intraday cash and liquidity management. We look forward to working with BIL on implementing our Realiti solution by next summer, and to a long-lasting working relationship with the organisation.”
Jérôme Benoit, Head of Products & Markets Business Support at BIL, adds: “We are delighted to have selected Planixs’ Realiti Suite to support BCBS 248 regulatory reporting requirements and to manage our cash and liquidity in real-time. When assessing the application vendor market, Planixs’ Realiti software stood out by far as the best solution to meet our needs. We look forward to working with Planixs and improving our liquidity management capabilities”.
Planixs is the world’s leading provider of real time treasury software.
We provide cloud-enabled solutions that power any treasury in any industry to become real-time with instant insight, rapid analytics, intraday control and agile liquidity.
Realiti from Planixs is a complete suite of modules built to deliver instantaneous insight over vast data volumes with devotees across funding, liquidity, compliance, risk and beyond.
Our innovation and dedication has seen us recognised as a UK tech leader in the prestigious Sunday Times Fast Track Awards and as one of the top 50 fastest growing technology companies in the UK.
Just some of our customers include Lloyds Banking Group, SIX, Scotiabank, FirstBank, Zenith Bank and Bank Leumi.
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Planixs provides cloud-enabled solutions that power any Treasury in any industry to become real-time with rapid analytics, intraday control and agile liquidity. Realiti from Planixs is a complete suite of modules that creates a real-time, liquidity-based view of the organisation and delivers instantaneous insights over vast data volumes with devotees across Funding, Liquidity, Compliance, Risk and beyond. Realiti’s clients are a range of banks of all sizes, including G-SIBs such as Deutsche Bank and Santander and D-SIBs such as Scotiabank, NatWest and Lloyds Banking Group.