Murex Wins Three IBSi Digital Banking Awards with D360 Bank, Kakaobank

Islamic banking, treasury segments secured with D360 Bank; implementation excellence category won with Kakaobank via MXGO implementation

PARIS, May 26, 2025—Murex is pleased to announce it has won three distinctions at the IBS Intelligence Digital Banking Awards with D360 Bank and Kakaobank, digital banks that use its MXGO solution.

Wins in the Islamic banking and treasury segments with D360 Bank and the implementation excellence category with Kakaobank are a validation of Murex’s work with the growing global community of digital-only banks, neochallenger banks, digital-only NBFCs, digital payments banks and digital-first banking units of traditional banks, which are the focus of this IBSi award grouping.

“The dual wins with D360 Bank exemplify how Murex’s broad expertise spans across multiple banking functions, helping organizations excel in diverse areas of financial services,” said Nikhil Gokhale, director, research and digital properties at IBS Intelligence. “The strategic collaboration between Kakaobank and Murex and seamless deployment of transformative solutions illustrate what effective partnerships can accomplish in digital banking. This recognition celebrates precision, scale and impact.”

MXGO is the packaged treasury solution from Murex that leverages the MX.3 platform. It is designed for rapidly expanding banks willing to deploy new technologies in a faster and more cost-effective manner, without compromising on quality. The solution covers treasury processes from front to back office to settlement through middle office, risk management and regulatory compliance.

D360 Bank, the innovative Sharia-compliant digital bank based in Saudi Arabia, selected Murex’s MXGO solution to equip its treasury department with a Sharia-compliant, leading management system. The bank received valuable support from Elenjical Solutions, a trusted system integrator partner of Murex that played a pivotal role by offering on-site MX.3 expertise across various crucial aspects, including project management, architecture, requirements gathering and testing services.  

“D360 Bank’s adoption of MXGO has elevated how we manage treasury operations while fostering seamless collaboration across our organization,” said Feras Al-Towaijri, chief of treasury and investment at D360 Bank. “Deploying MXGO’s treasury management solution reflects our commitment to fintech innovation. These strategic partnerships strengthen our capacity to scale efficiently in line with our growing portfolio of all-digital, Sharia-compliant banking solutions.”

“D360 Bank adopted MXGO to optimize financial performance, ensure compliance with regulatory requirements and position the institution strategically for future growth,” said Murex Solution Architecture Director Marc Salamé. “The bank has gained a single, consolidated system that can be used by all treasury department members, enhancing cooperation across the team. We are proud to have supported its journey and to continue to work with this institution as it further develops its business.”

Internet-only Kakaobank, the largest digital bank by market capitalization in South Korea, selected MXGO to gain comprehensive business coverage enabling required treasury activity features, maximized straight-through processing and reduced cost of ownership. The bank treasury now efficiently manages FX cash, money market and fixed-income activities for front office, market risk, operations and accounting. Kakaobank was able to rely on Murex to provide guidance and support to save time on decisions such as design options, business requirements and best practices.

“Through MXGO, Kakaobank has improved the efficiency of its treasury operations,” Salamé said. “The MXGO solution was deployed at Kakaobank and ready to test within five months. MXGO is designed for scalability to support the future growth of fast-growing organizations like Kakaobank, which often start their treasury activity with the minimum set of financial instruments and functions and then add more as they market new financial instruments and have new funding requirements.”