Orient Bank has selected Acument net for its treasury management operations.
The bank selected Acument net due to its real-time, automated, and powerful capabilities for reporting and straight-through processing (STP).
The decision to select Acument net came after Orient Bank’s treasury department, which deals in foreign exchange, repos/reverse repos and securities, was looking for a flexible, easy to integrate, and robust solution to support their operations.
According to Profile Software, an international financial solutions provider, Acument net is a front-middle office and risk management solution.
This will enable Orient Bank to efficiently manage all pertinent functions in the most advanced manner.
Additionally, the solution allows for STP handling of treasury transactions imported in real time from various platforms, including their existing core banking Flexcube release 12.
Acument net empowers the bank to monitor all treasury related elements ranging from positions to accrual calculation, Profile Software revealed.
Meanwhile, it manages the full process of customer bond orders and execution on the primary market, while checking limits in real time with automatic generation of SWIFT confirmations.
As well as this, the solution also supports risk management functions for counterparty risk, market risk, and it reportedly offers a comprehensive approach to handling risk related issues so as to safeguard the bank’s operations.
Sudheer Kumar, head of IT at Orient Bank, said: “Acumen net offers a full STP and automated approach to our treasury department’s requirements.”
“It updates in real time position for powerful reporting, while seamlessly integrating with the back office system.”
He added: “The Risk Management module available will allow us to carefully monitor risk and comply with ease to current and future regulatory requirements”.
