US financing firm Tyco Capital is to use technology from New Jersey-based Principia Partners to support its front-to-back office treasury operations.
The installation and implementation of the Principia System consolidates the bank's treasury management and replaces several software products with one fully integrated straight-through-processing system, says the company. This includes deal capture, portfolio management, valuation, risk management and accounting for all asset classes.
Steve Kaufhold, assistant treasurer, Tyco Capital, states: “FAS 133 compliance, flexibility and reliable customer support were key to our decision. The Principia System has greatly reduced manual operational costs and provided us with a robust system that can manage all our treasury requirements. The implementation of the system was quick and painless with all deliverables on schedule and under budget."