Societe Generale signs contract with British fintech 

The system goes live in the third quarter of 2020

Societe Generale

Societe Generale signs contract with British fintech. Source: shutterstock.com

Societe Generale announced a 7-year software-as-a-service (SaaS) contract with Nuvo Prime. According to the agreement, the bank will implement Nuvo Prime’s swap trading and management system, SwapScale, a next-generation cloud-based app. This way, Societe Generale will be able to deliver swap products to its client base using cloud technology.

Our clients are looking to us to implement leading-edge technology and in doing so, improve the agility, functionality, and efficiency of the operations. That is the essence of our digital and innovation strategy. Nuvo Prime's cloud-native scalable technology enables digital transformation to take place rapidly, in a controlled and cost-efficient manner. With it, we can scale up Prime Finance to service our clients' needs
Richard Déroulède, Head of Prime Services and Clearing at Societe Generale

Societe Generale tends to implement the Nuvo Prime platform in its prime brokerage business, combining swap and cash prime finance position-keeping, financing, and reporting on an integrated tech infrastructure.

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