January 20, 2021

Shinhan Bank Vietnam goes live on Finastra risk platforms

South Korean lender, Shinhan Bank, has gone live in Vietnam with Finastra’s Fusion Kondor and Fusion Risk systems.

Shinhan Bank used Finastra’s “Adopt” programme to deploy the two systems

Kim Tae Hee, head of capital markets and trading at the bank, says the vendor accomplished a “deep integration” between its systems and the bank’s technology.

He adds that his team can now handle higher volumes of transactions with flexible capacities, accurate pricing methodologies, and risk monitoring.

The project was completed via Finastra’s Fusion Adopt programme. 85% of the implementation occurred remotely, according to the vendor.

Finastra says Kondor can meet the needs of different desks and individual traders.

It adds that Fusion Risk will also help Shinhan Bank Vietnam meet its regulatory obligations and offers “powerful analytics”.

Founded in 1897 as Hanseong Bank, and re-established in 1982, Shinhan claims “historically” to be South Korea’s oldest bank.

It is part of the Shinhan Financial Group, which also includes Chohung Bank and Jeju Bank.

The Kondor story

Finastra’s Fusion Kondor system is the antecedent of the Thomson Reuters Kondor trading and global risk management platform.

Kondor was sold to Vista Equity Partners along with Thomson Reuters’ trade software business in 2011.

Vista Equity Partners bought technology company Misys for £1.27 billion in 2012. It then merged it with newly-acquired Canadian firm D+H in 2017 to form Finastra.

Kondor passed through all phases and into the Finastra portfolio.

Related: MoneyGram makes another move into South Korea