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Currency technology provider Integral has announced that Banco Base has implemented its foreign exchange technology solutions to strengthen the Mexican bank's derivatives operations.
The Palo Alto-based technology firm revealed today that Banco Base has adopted its price engine and liquidity aggregation solutions to improve its FX derivatives capabilities, particularly for pricing FX swaps more efficiently.
According to the announcement, the technology will enable Banco Base to automatically aggregate pricing data from multiple liquidity providers simultaneously, replacing the previous method of sourcing pricing data through separate single dealer platforms and manually consolidating information using spreadsheets.
This automation is intended to help the bank respond more quickly to market changes as it expands its presence in Mexico and the broader Latin American region.
Harpal Sandhu, CEO, Integral
Harpal Sandhu, CEO of Integral, said: "By offering highly configurable and scalable solutions across FX workflows, Integral is providing banks across the world with the tools to upgrade their operations, provide a best-in-class client experience, and maintain their strategic advantage over the competition. This partnership will see Banco Base deliver clients unrivalled speed in derivatives pricing and execution, setting a new standard for financial providers in the region."
Banco Base, which specialises in international transfers and financing products for companies involved in foreign trade, expects the new technology to enhance its competitive position in the market.
Guillermo Mateos, Deputy Director of FX and Derivatives, Banco Base
Guillermo Mateos, Deputy Director of FX and Derivatives at Banco Base, added: "With the increasing complexity of FX workflows in Mexico and Latin America, automation and real-time price aggregation are crucial for Banco Base's growth. Integral's technology enables us to provide best-in-class pricing while reinforcing our leadership in a competitive market."
