Capital markets technology provider, Calypso Technology has announced on Friday that it has partnered with Grupo Aval to offer front-to-back solutions to two of its Colombian subsidiaries: Financial Services provider, Corficolombiana and Pension Fund, Porvenir.
The announcement detailed that with Calypso, the group companies are planning to strategically transform and scale treasury and derivatives operations. The new technology provider will provide both sell-side and buy-side requirements in one single cross-asset front to back trading and investment management solution.
Didier Bouillard, CEO of Calypso Technology, commented: “We are delighted to partner with such a prestigious organization in Latin America. We are committed to delivering a world-class, yet localized sell-side and buy-side solution. Our goal is to support Grupo Aval’s growth strategy and to enable them to receive maximum value across the group.”
Migrating to Cloud-Based Solutions
Founded in 1997, Calypso’s offerings include cross-asset solutions for trading, processing and risk management, among others. Additionally, it focuses on cloud solutions and enterprise apps, simplifying regulatory compliance.
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The company is headquartered in California but has an extensive presence in the Latin American markets with three regional offices, providing support to around 20 clients.
Aval detailed that Calypso was selected after a lengthy and detailed process as it is a part of its technology transformation.
“The growth of our investment management business in Colombia due to the immense responsibility with our customers required us to look for a new solution, that would help us rationalize and significantly enhance our processes,” Porvenir CIO, Alonso Angel said. “Calypso’s track record in the institutional business coupled with the possibility to build our business over a group-wide platform were essential to our choice.”