Opensee big data analytics platform goes live at Societe Generale

Karthik Subramanian

Opensee, the Paris-based fintech that provides large financial firms and banks with real-time analytical tools and data so that they can see all the data within their systems at one glance, has announced that its analytics platform has gone live at the Societe Generale bank.

Interbank FX institutions experience collapsing share prices

This data would be used by the finance and risk divisions of the bank to study the user data as well as transaction data and come out with findings and also help to understand the risks that are being built at the various systems and this can be easily and quickly identified by the staff and escalated for the bank to take the right action. This saves a lot of running and infra costs for the bank and avoids the need to go through tons of data to sort and find the risky transactions or users. Societe Generale started using the Opensee platform for its day-to-day regulatory reporting and business needs in two critical areas: management of the interest rate risk of the Banking Book (IRRBB) by the Liquidity & Asset Liability Management Department and management of market risk-related capital requirements linked to FRTB (Fundamental Review of The Trading Book) by the Risk department (RISQ RMA).

Claire Calmejane, Group Chief Innovation Officer at Societe Generale, said: “In the Incubator we saw how Opensee had the potential to create value and synergies for the business and our risk management processes, so the partnership has blossomed. Opensee brought a cutting-edge solution that combines the transformative use of technology with financial markets business experience. Its tools allow us to access and leverage the most granular level of information and most relevant historical data.”

Opensee had been part of the bank’s incubation program and the partnership between the two companies had started at that time with the bank sharing its data and infra to the startup to help with its growth and development. The fact that this incubation has been successful and the solution has been implemented at the bank shows that the analytics platform helps to solve the big data problem that Societe Generale and this can then be replicated at other financial services firms that generate a lot of data daily. The fact that this platform is easy to use also ensures that the staff can be self-serving with this platform.

Read this next

Executive Moves

Scope Markets promotes James Hughes to head of marketing

Belize-based FX and CFDs brokerage Scope Markets has promoted James Hughes, who until recently was its head of brand, to take on an expanded role as the company’s global head of marketing.

Retail FX

Fraudsters clone Financial Commission’s website, two ex-members under suspicion

The Financial Commission, an industry-specific dispute resolution service that caters to the financial services industry, today announced that it believes a clone website has been impersonating its membership roster.

Retail FX

CMC Markets warns of operational challenges in Q1

CMC Markets PLC (LSE:CMCX) said in a trading update for the fiscal year 2023 that February and March posed a more challenging environment with lower equity volumes and a higher proportion of lower margin institutional trading activity.


Why Is Digital PR So Important for Financial Service Providers? Buzz Dealer’s CEO Uri Samet with the Answers

Digital PR is all about spreading your message faster, wider, and stronger in the online world, through proper SEO, link-building, and organic and paid social media work.

Inside View

Why And How Are Virtual Cards Disrupting The Finance Industry

Virtual cards have the potential to revolutionize the finance industry by providing faster and more secure payments, wider acceptance, and eco-friendliness.


Sweat Economy’s Oleg Fomenko on upcoming launch of Move-to-Earn app in the US

With the crypto winter’s biggest hurdles seemingly behind us as the prices of Bitcoin et al. climb the charts again, the Web3 economy is preparing for the next phase.

Industry News

OptionMetrics acquires Woodseer to add dividend forecast data for equities

“The addition of Woodseer’s product suite will enhance our ability to serve financial market stakeholders and academic institutions in their analysis of equity market performance and risk.”

Digital Assets

Metacade raises over $14.7M as presale set to close in 72 hours

Metacade, one of the most exciting GameFi ventures of 2023, has now raised over $14.7m as the presale goes into its final hours. With over 90% sold, the project expects to sell out ahead of their scheduled closing time, set for Friday 31st March at 23:59 Pacific Time. 

Digital Assets

Coinme launches Circle’s USDC on Stellar network

“By enabling USDC on Stellar in the Coinme wallet, anyone with cash can now utilize the Stellar blockchain to access a fully-backed dollar digital currency. People can now swap their cash for USDC on Stellar and send it in seconds for the cost of a penny.”