Metro Bank selects disruptive Collateral Management solution, CloudMargin, for OTC Derivatives and Repo Collateral Management

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Metro Bank increases control and efficiency by selecting automated collateral management technology platform CloudMargin.

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CloudMargin offered a cost-effective; pay-as-you-go; plug-and-play cloud-based system, so there was no need for IT hardware, software or implementation spends.

CloudMargin, the groundbreaking collateral management platform, is now live and fully integrated within Metro Bank. CloudMargin is being used to provide collateral management technology for Metro Bank’s over-the-counter (OTC) derivatives and Repo portfolios. This collaboration between the two firms now means Metro Bank have greater control and visibility of their counterparty risk, with the ability to actively challenge and validate their collateral positions and balances.

CloudMargin was not only selected to bring increased efficiency, control and insight to the bank’s OTC derivatives and repo portfolios, but to also deliver state of the art capabilities at a fraction of the cost of traditional on-premise or ASP solutions.

Metro Bank is Britain's first new High Street Bank in over 100 years. They offer unparalleled levels of service and convenience to customers 7 days a week.

Alex Cockerell, Head of Treasury at Metro Bank commented: “Metro Bank had the need for a collateral management tool, but not the appetite for investing in expensive ‘big bank’ collateral management systems and infrastructure. CloudMargin offered a cost-effective; pay-as-you-go; plug-and-play cloud-based system, so there was no need for IT hardware, software or implementation spend. Most importantly the tool is simple and intuitive to use, and saves us time. The team at CloudMargin were great to deal with and incorporated our feedback into their development of the tool. Their customer service and quality product was a good cultural fit for the bank”.

Real-time, exception-based visibility in all collateral books is fast becoming a necessity for firms if they want to survive and remain in control of their collateral. CloudMargin presents Metro Bank with the capability of true cross product visibility, opening the door to the margin efficiency of netting. This collateral technology solution will present Metro Bank with the ability to make the right business decisions without the inefficiencies that traditional methods of managing collateral impose.

Andy Davies, Founder and CEO of CloudMargin, added: “Metro Bank has brought a huge amount of innovation to High Street Banking with their radically different and alternative approach. It is a great privilege to be working with them, and having them onboard reinforces our belief that the collateral management world is demanding a simple to use, yet functionally complete system that improves all aspects of the collateral management process, without costing the world”.


Press contacts

Charlotte Griffiths, PR & Communications Manger, CloudMargin
020 3397 5680

Deborah Lewis, Communications Manager, Metro Bank
020 3427 1485

About CloudMargin

CloudMargin is the collateral management technology provider. It meets the growing need for an affordable, understandable and functionally complete alternative to outdated and overpriced technology, spreadsheets, or manual processes. CloudMargin focuses on the needs and challenges facing firms such as corporate treasurers, insurers, pension funds, banks and asset managers. CloudMargin allows users to avoid the unnecessary and expensive complications of highly bespoke sell-side focused solutions and instead deliver to these firms a cost-effective and understandable web-based platform. With a low-cost "pay as you go" menu-based price structure, CloudMargin allows users to diminish lengthy technology contracts with punitive exit clauses and costly upgrade cycles. The simple yet powerful web-based interface gives total visibility of proprietary and counterparty or CCP positions, while state of the art data visualisation and reporting puts clients firmly in control of their businesses.

About Metro Bank

Metro Bank operates retail hours, not banking hours. It is open seven days a week (8am- 8pm Monday to Friday, 8am - 6pm Saturday, 11am - 5pm Sunday and bank holidays), every day of the year apart from Easter Sunday, Christmas Day and New Year’s Day. Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. ‘Metrobank’ is the registered trade mark of Metro Bank PLC. We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website All Metro Bank products are subject to status and approval. Metro Bank PLC is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.

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Charlotte Griffiths
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since: 05/2013
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