Novobanco and Nasdaq announced the expansion of their technology partnership, which will see Novobanco expand its use of Nasdaq’s Calypso platform to support the bank’s entire capital market operations. Novobanco, a Portuguese independent domestic bank, has used the solution to conduct back office processing for almost 20 years and will now incorporate its risk and front office functionality to fully integrate the technology underpinning its treasury function.
“Consolidating our treasury function onto a single platform marks another major step in our journey to position ourselves as an independent, strong, and successful Portuguese bank,” said Nuno Duarte, head of Treasury and Finance of Novobanco, in a statement. “By streamlining our infrastructure and enhancing the efficiency of our operations, we are better positioned to deliver a more personal, customer-centric experience to our clients, while supporting sustainable growth.”
Nasdaq Calypso is a global, multi-asset trade management platform designed to streamline trading, clearing, risk management, and post-trade processing. By adopting this solution, Novobanco enhances its operational efficiency and agility, leveraging advanced technology to support its evolving business needs. It is the 4th largest bank operating in the Portuguese market, with 1.6 million customers, assets of €45.6 billion and a 9.3% overall market share in September 2024.
Gil Guillaumey, senior vice president of Capital Markets Technology at Nasdaq, said in a statement: “European banks are on an extraordinary modernization journey and the decision to consolidate Novobanco’s capital markets infrastructure underscores the bank’s commitment to innovation and superior client services. Through this partnership, Novobanco gains the flexibility and scalability required to meet new industry standards, navigate regulatory changes, and capitalize on new growth opportunities. This marks a significant milestone in the bank’s ongoing transformation.”
Nasdaq Calypso currently supports Novobanco’s treasury workflows, from trade settlement to payment and accounting processes. Expanding its use to include front office and risk functions creates an efficient, integrated system aligned with industry best practices. This streamlines operations, centralizes data, enhances transparency through the lifecycle of trades across asset classes, and enables real-time decision-making supported by live pricing and risk analytics. Standardized APIs ensure seamless connectivity to capital markets globally.