Banco BNP Paribas Brasil uses Sopra Banking Software’s Solution to manage and monitor its guarantees
São Paulo, Brazil, September, 26th, 2019 – Sopra Banking Software announces that Banco BNP Paribas Brasil currently manages and monitors its guarantees successfully with Sopra Banking Software’s solution. The bank is taking advantage of it to meet requirements imposed by new Brazilian regulations.
With over 20 years’ experience in Brazil, Banco BNP Paribas Brasil, a subsidiary of the BNP Paribas Group (France), is a corporate and investment bank with a varied portfolio of commercial banking, leasing, foreign exchange, and investment products and services mainly targeting local and multinational companies, financial institutions and institutional investors in Brazil. As part of its transformation, Banco BNP Paribas Brasil has redesigned its services in order to create a unique customer experience. Furthermore, the bank must meet new Brazilian regulatory requirements.
The Central Bank of Brazil (BCB) has adjusted local rules governing financial institutions in order to comply with Basel agreement international recommendations. In 2017, the BCB published directives on guarantees that make it possible to limit the financial and legal risks of lending. By using these guarantees the bank can offer lower rates while complying with Brazilian new regulations.
Against this backdrop, Auro Oliveira, Head of IT Corporate Banking at BNP Paribas Brasil said, “One of Banco BNP Paribas Brasil’s main objectives was to reduce financial and legal risks. We were looking for a solution that could address specific local conditions and absorb growing demand in the banking sector.”
Thanks to Sopra Banking Software’s Cassiopae solution, the bank is now able to manage all financial products and guarantees on one platform, with an automated approach, while complying with new directives established by the BCB.
Georges Legrand, Managing Director for LATAM at Sopra Banking Software, confirmed “We are delighted to be part of Banco BNP Paribas Brasil’s digital transformation and to be a global partner supporting their transformation and innovation strategy.”
About Banco BNP Paribas Brasil
BNP Paribas has officially been operating in Brazil since 1996. As of 2010, when the Securities Services area became operational, the Brazilian unit began to bring together the largest number of lines of business in Latin America, becoming one of the Group's largest operations in emerging markets. Today, in Brazil, the Group is present in the areas of Corporate & Investment Banking, Wealth Management, Asset Management, Insurance (Cardif), Personal Loan (Cetelem) and Fleet Management (Arval).
Currently BNP Paribas Brasil has about 1700 employees, distributed in the offices of São Paulo, Campinas, Belo Horizonte, Rio de Janeiro, Curitiba and Porto Alegre. In Brazil, it is the second largest international investment bank in total assets (BRL 47bi, Jun / 18, Central Bank), offering product diversity and multiple solutions to its clients. BNP Paribas stands out for its financial leadership in Europe and for its international reach. Today the group is present in 75 countries offering varied services, aiming to create synergies between businesses and to meet the local and international needs of clients around the world.
About Sopra Banking Software
With 4 300 experts, a pro forma turnover 2018 of € 373,7 million and one of the deepest, broadest portfolios of software and services, Sopra Banking Software is a trusted, long-term partner of over 800 banks in more than 70 countries. Sopra Banking Software has an unequalled ability to address the requirements for banks and financial institutions of any size and scope, allowing them to innovate and expand their services. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in digital transformation, with more than 45 000 employees. In 2018, Sopra Steria achieved generated a revenue of € 4,1 billion.
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