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Grupo Aval Selects Calypso Technology

Categories: Press Releases
  • Colombia’s Grupo Aval to deploy Calypso Front to Back solutions at Corficolombiana and Porvenir - Key Wins in Latin America

Calypso Technology Inc., a leading provider of capital markets and investment management cloud solutions, announced today two major successes in Colombia. Following a stringent selection process, Calypso has been appointed to provide front-to-back solutions to two Grupo Aval companies – Financial Services provider Corficolombiana and Pension Fund Porvenir.

Grupo Aval, the largest financial corporation in Colombia and one of the most well-known Latin American success stories, selected Calypso as their strategic transformation partner to effectively scale treasury and derivatives operations across the group, leveraging a common platform. The project will provide a strong foundation to support the group’s anticipated growth over the next decade. Grupo Aval aims to automate and standardize processes, with Calypso covering both sell-side and buy-side requirements in one single cross asset, front to back trading and investment management solution.

Joining a series of successful client projects across the region, this announcement further demonstrates the strength of Calypso’s award-winning front to back trading and investment management solutions; direct result of continuous investment in product and processes, Calypso’s ability to provide open architecture, provide best practice solutions with the flexibility and agility to successfully address local regulatory and business requirements proved essential.

With more than ten years’ presence across Latin America, three offices, and staff supporting close to 20 clients regionally, these two latest client wins reaffirm Calypso’s strong commitment to the region.

Grupo Aval is a global leader with a strong track record for choosing innovative solutions, which allow the group to build sustainable businesses, supported by the right, future-proof solutions. We ran a lengthy, detailed process to select the right vendor to accompany us through what we think is a major, company-wide transformation project. We chose Calypso, as we believe Calypso is the right partner, which will enable us to grow and achieve our ambitious plans. Choosing a vendor that could execute across different businesses while giving us a strong sense of identity through a common platform was key.

Grupo Aval

The growth of our investment management business in Colombia due to the immense responsibility with our customers required us to look for a new solution, that would help us rationalize and significantly enhance our processes. Calypso’s track record in the institutional business coupled with the possibility to build our business over a group-wide platform were essential to our choice. Portfolio management, analytics, performance and attribution – the Calypso solution achieved better than we expected in all categories. A successful blueprint made the difference.

— Alonso Angel, CIO, Porvenir

As one of the key financial institutions in Colombia and a developing brand across Latin America, Corficolombiana was looking for a robust, integrated front to back solution to take our Capital Markets business to the next level. Through a successful consultative approach, Calypso won our selection process, granting us the confidence they could deliver, and provide the right platform for our growth.

— Juan Carlos Páez , Executive Vice-president, Corficolombiana

Didier Bouillard We are delighted to partner with such a prestigious organization in Latin America. I would like to thank Grupo Aval management and team for trusting Calypso in facilitating the next stage of their digital transformation journey. We are committed to deliver a world class, yet localized sell-side and buy-side solution. Our goal is to support Grupo Aval’s growth strategy and to enable them to receive maximum value across the group.


— Didier Bouillard, CEO, Calypso Technology says

About Grupo Aval

Grupo Aval is the largest financial group in Colombia and through BAC Credomatic is the largest and most profitable regional group in Central America. Grupo Aval is the leader in Colombia in the traditional banking business through its four banks (Banco de Bogota, Banco de Occidente, Banco Popular and Banco AV Villas), leader in the investment banking business through Corficolombiana & leader in the business of private pension and severance management through Porvenir. Additionally, it has one of the largest and most profitable regional platforms in Central America through the operation of BAC Credomatic, a bank that has a presence in Costa Rica, Panama, Guatemala, El Salvador, Nicaragua and Honduras.

About Corficolombiana

Corficolombiana is the leading investor in corporate and project structuring, management and administration in Colombia. With close to 60 years of experience, it has worked to become a strategic ally in the development and exposure of the country through sustainable investments in key sectors of the economy. Its model is based on developing new opportunities and creating synergies between its three business lines: Equity Investments, Treasury and Investment Banking.

About Porvenir

Porvenir is a leading Pension and Severance Fund Administrator, established in 1991 as a Severance Fund only. Since its inception, the Company has established itself as the management company with the largest number of members and resources managed in the Compulsory Pension and Severance Funds. That is why it works to guarantee the quality of life of its members at the time of their retirement, supporting them in their pension savings projects in the short, medium and long term, and making responsible investments to achieve the best returns for them.

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Calypso Technology, Inc. is a leading provider of cloud-enabled, cross-asset, front-to-back solutions for financial markets, with over 40,000 users in 60+ countries. Its award-winning platform improves decision-making, risk management, controls and operational efficiency across financial market participants’ value chain. From the outset, the Calypso platform was designed to support customers on innovation, modernization and business growth, while enabling them to rapidly adapt to changing regulations.

Calypso is pioneering innovative technologies (native cloud technology, AI, Big data) that reimagine capital markets.


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