Bulgarian National Bank is implementing technology from European treasury management software vendor Trema to support its reserve management operations.
The bank has deployed The Trema Suite, which covers front-, middle- and back-office operations, to automate its reserve management and meet EU treasury standards. Trema's local partner, Global Consulting, is involved in the implementation project with Bulgarian National Bank.
The vendor says the technology will ensure the bank is well ahead of the 1 January 2007 deadline for compliance with the revised Eurosystem standards and the country's integration into the European Union.
Tsvetan Manchev, deputy governor at the Bulgarian National Bank, says: "As an accession country, ensuring our financial processes were efficient and standardised was vital."
Trema says the deal brings the total number of customers in the central banking sector using its technology to 31.