Okobank licenses MKI

Okobank licenses MKI

Oko Bank, the central bank for Finland's co-operative banks, is to implement MKI's Opics solution to support treasury operations at its head office in Helsinki. Opics will replace the incumbent Mpct supplied Atlas back office system.

The new system is being implemented as part of the bank's preparations for the introduction of the euro as Finland's base currency in January 2002. Opics was chosen following an initial review of 15 rival packages and an intensive three month examination of four shortlisted contenders.

The Opics installation will include applications to support the bank's trades in foreign exchange, money market, and derivative instruments and the management of nostro/vostro accounts. The project also calls for the integration of Opics with inhouse and third party software, including Reuters' Kondor+ front office application, plus Okobank's general ledger, accounting, regulatory reporting, data distribution and Swift payment systems.

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