Bank of Greece has gone live with Trema's Finance Kit in support of its global FX business.
The bank is the first to use a version of Finance Kit which has been pre-configured for central bank operations. Bank of Greece selected the treasury management system in June 2000 to reform and modernise its foreign exchange department following entry into the EMU.
Phase one of the project was completed within five months and provided support for reserve management and foreign exchange intervention. The implementation covered key front, middle and back office functionality including all accounting modules.
Phase two, just completed, provided support for more complex derivatives and provided infrastructure for new processes and instruments that the bank will introduce in the near future.