Case Study: Kommunalbanken Norway (KBN) achieves integrated front-to-back funding, risk and regulatory reporting with Murex MX.3

Kommunalbanken Norway Chose Murex to Implement an Integrated Platform

Kommunalbanken Norway (KBN), the AAA/Aaa‑rated funding agency for local government with roughly €45 billion in assets, faced an outdated front/middle‑office system (in place since 2002), a tenfold growth in assets and rapidly increasing regulatory and reporting requirements (Basel III, CRD IV, EMIR, IFRS and national rules). KBN sought a single integrated front‑to‑back solution to replace disconnected spreadsheets and disparate models, improve business processes and meet stringent daily risk monitoring and regulatory reporting needs.

Following a competitive selection, KBN chose Murex and its MX.3 platform; implementation began in September 2013 to deliver a core system for funding, hedging, liquidity, collateral management and accounting. Murex’s MX.3 now prices fixed‑income and complex structured products in an integrated way (removing separate valuation tools), interfaces with lending systems for cash flows, enables daily netting of currency and interest exposures, and streamlines regulatory and internal reporting across KBN’s balance sheet — significantly improving risk control and operational efficiency.

Kommunalbanken Norway (KBN)

Martin Spillum

Chief Operating Officer