MKI wins Banca Tiriac Equation contract

MKI wins Banca Tiriac Equation contract

Romania's largest private bank, Banca Comerciala ‘Ion Tiriac’ (Banca Tiriac) has chosen Midas-Kapiti International’s (MKI) Equation DBA universal banking solution to support its expanding retail operations.

Anthony van der Heijden, Banca Tiriac’s president and chief executive officer, says the bank aims to introduce electronic, mobile phone and Internet banking, along with expanding existing product offerings. "However, to achieve this aim, we need a centralised real-time solution at the core of our operations, which is open and easily integrated with new banking channels," he says.

Banca Tiriac evaluated a number of packages from rival suppliers, including FNS’ Bancs, Kindle’s Bankmaster and Temenos’ Globus before signing a contract for MKI’s Equation product at the end of April 2001.

The system will incorporate a range of applications to support the bank’s retail banking operations, including Retail Account Services, Retail Deposits, and Retail Lending, together with Cashier System and Co-sign. The Cashier System, MKI’s branch automation platform, will be implemented throughout the bank’s network of 40 branches to automate teller functions, with Co-sign providing automated signature verification.

Other components of the system include modules for Foreign Exchange/Money Market, Clean Payments and Commercial Lending, plus a new Profitability Analysis application.

Installation of Equation is planned to get under way by the end of May 2001. An ambitious implementation schedule is also planned, with Equation due to go live at the bank’s head office in Bucharest in just six months.

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