Integral, a currency technology provider, has added another banking institution to its network through its latest partnership with Hungary’s OTP Group, which has 17 million customers and an extensive presence in Central and Eastern Europe.
Enhancing FX Infrastructure
Announced today (Tuesday), the Budapest-headquartered bank will integrate Integral’s liquidity aggregation, pricing engine, trading, and risk management solutions to enhance pricing accuracy and reliability for clients. The integration will also enable the bank to achieve cost savings across its FX operations.
“We are constantly developing our money and capital markets services to deliver exceptional service and tailored solutions to our regional and global clients,” said Attila Bánfi, Managing Director of OTP Global Markets.
“To provide an even better service, we needed a solution that could deliver accurate, flexible, and reliable pricing and risk management capabilities across our entire operating area. Integral’s proven and adaptable technology stood out as the ideal partner to help us reach these goals.”
Cloud-Based SaaS FX Solutions
Established in 1993, Integral primarily provides cloud-based SaaS FX workflow solutions and serves a wide range of buy-side forex market participants, including banks, brokers, asset managers, and hedge funds.
The company also secured $30 million in growth financing earlier this year from Canada’s Vistara Growth for business expansion. Last year, it expanded into crypto by launching industry-specific technology solutions. It developed the crypto services in partnership with Mint Exchange, an institutional crypto exchange. These services include aggregation and connectivity to liquidity providers, desktop and mobile client trading, risk management, and hot and cold storage custody solutions.
Last June, the Bank of Cyprus also tapped Integral’s infrastructure to offer real-time pricing and risk management capabilities as part of the bank’s online banking platform, aiming to provide tighter spreads through real-time pricing services to its retail, corporate, and institutional customers.
“With over 30 years of experience and the most advanced technology, Integral offers highly configurable and sophisticated trading solutions to meet the specific needs of regional banks, as we are doing with OTP Group,” said Harpal Sandhu, CEO of Integral. “Our solution will provide OTP Group with the workflow capabilities and environment they need, not only to significantly improve operational efficiency but also to enhance their trading workflow capabilities for clients.”
This article was written by Arnab Shome at www.financemagnates.com.
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