Adenza, formed by the merger of Calypso Technology and AxiomSL, announced that it has been selected by C6 Bank to provide Custody Solutions to its Global Investment accounts, the platform that offers international funds and stock market investments to its domestic clients. C6 Bank deployed Adenza’s cross-asset post trade processing platform, extending the bank’s management of custody for its clients.
The solution will significantly increase the sophistication and capabilities of the bank’s business operations. C6 Bank launched a 100% digital global accounts service for its clients in August 2019 and started to offer international investments options in April 2021. The determining factors in selecting Adenza were related to the ability to support multiple markets and products, offering more investment options to C6 Bank’s clients.
The industry shows that the banks are looking for complete solutions instead of fragmented systems to support the end-to-end process to avoid operational risks with the flexibility and scalability to grow with them while they focus on their core business. This important win reaffirms our strong commitment to the Latin American markets. It is great to see the recent traction in Brazil. C6 Bank is a true innovator in the local market, and we are excited to support them in this initiative and to be part of their journey of continued growth extending it to the regulatory demands.
C6 Bank is a complete bank, launched in 2019, which surpassed the mark of 20 million customers in Brazil in August 2022. Without physical branches, the financial institution already has more than 60 products and services in its portfolio, including free current accounts, credit card without annual fee, free transfers and withdrawals, toll tag, credit, Global Account, investment platform with assets from Brazil and abroad, marketplace with more than 60 thousand items, among others. C6 Bank serves individuals, MEIs and SMEs and is present in 100% of Brazilian municipalities.
Adenza provides customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms which can be delivered on-premises or on-cloud. Adenza enables financial institutions to consolidate and streamline their operations with front-to-back solutions integrated with data management and reporting, benefitting from a single source of truth across the business.