SunGard Treasury Systems announced that the Bank of Bahrain & Kuwait (BBK) has selected Quantum to manage its back-office treasury operations. BBK trades money markets, FX swaps and outrights, and derivatives, including fixed income and externally managed funds.
BBK will interface Quantum with its existing trading and risk management and core banking system, to form a straight-through processing system designed to handle high volumes with minimal manual intervention.
Advanced Financial Solutions (AFS), a software solutions and consultancy firm for financial institutions in the Middle East, worked with BBK to define their requirements. It is now working with both BBK and SunGard on the system implementation. Commenting on the project, Juan Jarjour, managing director of AFS, said, “Quantum has proven to be a perfect solution for banks looking for an integrated treasury and risk management system and the prestigious BBK is an important reference account in the Middle East."
BBK in Bahrain provides a full range of corporate and commercial banking services to Bahrain's government, business and individual sectors as well as employees needing consumer banking loans and other retail services. The Bank has been consistent in supporting industrial projects, both large and small, government and private, local and joint ventures with tailored financing, guarantees and trade services. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
