The implementation provides PZU, which is a financial institution and insurance provider in Poland, a consolidated, integrated, cohesive system. It ensures faster flow of information between departments involved in closed transaction processing and business process automation, better serving clients. The implementation will enhance error reduction.
The newly executed, cross-asset front-to-back-to-risk portfolio management solution providing collateral and order management and important compliance and security features, is modeled on Murex's market-leading MX.3 platform. The implementation was successfully delivered through a strong governance framework and a well aligned, competent tri-party delivery model between DXC Luxoft, Murex and PZU.
A major focus of the project, according to PZU, is to build a sustainable, long-term investment process that boosts and sustains rate-of-return on investments and secures larger assets under management. That process is made possible by the collaboration between DXC Luxoft, Murex and PZU, as well as several other important technology partners.
"We congratulate PZU on its successful implementation under the unique constraints of the past year. This new platform benefits from MX.3 tech and should benefit PZU and its customers as it pursues an ambitious international strategy," said Murex Managing Partner and Co-founder Philippe HELOU.
The infrastructure upgrade provides important domestic and international benefits for PZU. It enhances the quality and speed of information provided, supporting growing client needs at home, and gives PZU flexibility to enter new jurisdictions, facilitating effective portfolio service for clients outside Poland.
Tomasz KULIK, Group CFO at PZU stated: "We set ourselves clear and ambitious goals. One of them is building and strengthening the leading position in the area of investments. In the coming years, we will focus on increasing the share of external clients' assets and building an investment process that will facilitate the generation of above-average and repeatable rates of return on investment. The implementation of a new technology solution is closely related to the achievement of our goals."
Laurent RHODES, manager of the Murex Asset Management business unit, added that the company is proud to facilitate the adoption of a bespoke new platform solution tailored to the specificities and needs of a leading financial organization in the investment management space, confirming strong Murex expansion in this segment. The successful implementation at PZU is another example of MX.3 flexibility at work in a demanding, situation-specific context.
The project was completed on time and on budget. As remote working became the norm, all aspects of the project became remote. The go-live itself was remote, with no Murex site presence at PZU.