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LONDON, NEW YORK, SINGAPORE 19th August 2015.
Zenith appointed Planixs as its vendor of choice for intraday liquidity in April 2015. Zenith is utilising Realiti® to comply with the UK PRA’s requirement for banks to start collecting and reporting intraday liquidity metrics from July 2015. In addition, the bank will gain benefits such as real time visibility over its intraday liquidity positions, operational risk management and the ability to optimise its liquidity buffer size and cost.
Planixs implemented Realiti® in Zenith in under two months due to the non-intrusive nature of the solution. This fast-moving implementation ensured a significant ROI for the project.
John Shea, Head of Finance and Operations for Zenith Bank, said “Our business owners of treasury, risk and compliance will be shortly reaping the benefits of the new system in terms of control, cost savings and compliance. We will now be able to provide the BCBS248 reports to the PRA on time and with confidence.”
“We have been very impressed with the ability of Planixs to implement their solution in under two months as promised. The Planixs team not only provided us with an implemented solution but worked through the regulatory challenge with us to ensure we met the business objectives of the project in addition to the technical implementation,”
“We are delighted that Zenith can now benefit from the range of capabilities of the Realiti® solution, including regulatory compliance and real time liquidity control,” said Neville Roberts, CEO of Planixs. Commenting on the implementation Neville said, “Delivering a full live implementation in under two months is testament to both the non‑intrusive nature of our solution and the collaborative approach created with colleagues at Zenith.”
Planixs’ patented Realiti® solution is the only accurate and effective Intraday Liquidity solution live in the industry today. Its uniquely high performing and scalable architecture means that it can be rapidly deployed across any IT infrastructure, reducing complexity and enabling rapid speed to value. It systematically, and without intrusion, reads transactions across a bank’s correspondent and clearing bank networks in real time providing comprehensive coverage of required liquidity functions.
About Planixs: Planixs is a leading provider of Big Data analytical software solutions and has developed products in a number of domains including Financial Services, Workforce Planning & Optimisation and Retail. Planixs develops analytics solutions based on data science to deliver high value business solution to companies through non-invasive technology approaches.
Planixs GRP Limited
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Tel: +44 (0) 20 3290 3160
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About Zenith Bank
Zenith Bank (UK) Limited (ZBUK) is the UK subsidiary of Zenith Bank Plc, the leading bank in Nigeria. ZBUK was licensed on 30th March 2007, the first new Nigerian bank to be approved by the Financial Services Authority (FSA) in the United Kingdom (UK) in 25 years. ZBUK is currently authorised and regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in the UK.
Zenith UK offers an extensive range of Trade Finance, Lending, Wealth Management, Treasury products and services to Nigerian and West African Corporations and Banks, and to UK and European corporations trading with and investing in Nigeria and other West African countries.