Municipality Finance / Kuntarahoitus (“MuniFin”) based in Helsinki, Finland, selected Acumen, the Treasury platform by Login SA to effectively manage and automate their operations.
With a total balance sheet of 34bn euros MuniFin, is the second largest credit institution in Finland and the only lender focused on the financing and financial risk management of the municipal sector and non-profit housing companies. MuniFin’s main activity is to issue bonds on the international capital markets at the lowest cost using its AA+ rating, then swap the bonds with international banks to hedge the risk, and finally offer loans at low interest rate to Finnish municipalities for various types of local and regional projects.
MuniFin is successfully utilising Acumen to comprehensively manage deal capture, pricing, middle-office, reporting, collateral management, back-office and risk management processes. Acumen is a flexible and truly open system, with state-of-the-art interfaces; it can integrate with numerous systems and pricing platforms to import real time rates and deals. In terms of instruments, the full scope of financial products are covered, so that includes multiple types of securities, interest and cross currency swaps perfectly matching the corresponding bond issue, structured loans, futures, options, money market and FX deals.
Esa Kallio, interim President and CEO and Head of Capital Markets at MuniFin states: “Thanks to Acumen’s flexibility and the timely support of Login’s teams, MuniFin can adapt very quickly to the new market requirements. MuniFin is able to provide competitive services and propose to the market the complex structures it is looking at”.Download the Case Study