Crédit Agricole Corporate & Investment Bank, a key player in one of the world’s largest banking groups, has successfully integrated Opensee’s cutting-edge market risk management solution into its Front Office operations. Opensee’s platform consolidates diverse data sets from multiple sources, providing a unified repository that enables Crédit Agricole CIB’s Global Markets management to monitor, analyze, and report risk exposures seamlessly. By leveraging Opensee’s self-service tools, the bank gains a comprehensive view of its trading activities, utilizing a singular source for market data.
Opensee’s cloud-native platform goes beyond standard reporting, offering transparent decision-making processes essential for the highly regulated financial industry. With built-in Python calculators for regulatory measures like Value at Risk (VAR) and Liquidity Coverage Ratio (LCR), alongside AI-powered Data Quality Assistants and Data Versioning, the platform empowers Front Office, Risk, and Finance officers to collaboratively investigate, simulate, assess impact, and adjust data in an auditable manner.
Crédit Agricole CIB and Opensee are actively collaborating to expand the solution’s capabilities to address specific needs within various asset classes and support bank-fintech partnership. In the upcoming months, FX options and non-linear interest rate derivatives traders will integrate Opensee into their daily risk management operations, marking a significant step towards a more comprehensive and efficient risk management approach.
Regis Benichou, Head of Business Risk Advisory at Crédit Agricole CIB, said: “This is a game changer for the bank in terms of improving the speed, efficiency and governance of risk management for Crédit Agricole CIB’s market activities. Greater data accuracy will minimise operational risk while managers will have quicker aggregated overviews for better oversight. It is a leap forward to a world where multiple users across the Global Markets division will have a very powerful, scalable tool to meet their different needs. We will discover the full potential of the solution as we roll it out to business units over the coming year.”
Stephane Rio, Founder and CEO of Opensee, said: “We’re really excited to have reached this milestone for our platform. It’s the culmination of our close collaboration with the Crédit Agricole CIB team to integrate and calibrate the platform to suit their needs. Crédit Agricole CIB’s data divers are now fully equipped to embark on their data exploration journey with the freedom and flexibility to extract the value hidden in the depths of the bank’s data lakes.”
To know more about other trending usecases in the US financial services industry, like Generative AI, Open Banking, Buy Now Pay Later (BNPL), explore our other insights.
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