Netherlands Development Finance Company licenses Fidelity's ACBS
27 November 2003 | 3287 views | 0
The Netherlands Development Finance Company (FMO) has licensed Fidelity Information Services' Advanced Commercial Banking System (ACBS) to support its growing portfolio of development and export loans.
FMO provides financing for private companies and banks in about 40 developing countries.
Fidelity's ACBS is an integrated package of products that automate commercial lending processes, from deal origination through settlement and accounting to risk management and loan trading.
The company will implement the deal and loan servicing (DLS) and DataMart (DM) components of the package to replace its existing system and automate manual processes.
Peter Reijgers, head of IT projects, FMO, says the firm wanted a single system that could support loan servicing, portfolio management and reporting processes across the entire organisation.
"ACBS will enable us to institute servicing efficiencies, eliminate existing manual processes, strengthen managerial reporting and support our preparations for Basle II requirements," says Reijgers.