ING Bank (Australia) has gone live with CCK Financial Solutions' Guava solution to automate its front-to-back office treasury and risk management operations through a central system.
The bank is using Guava - Perth-based CCK's new generation treasury system - to cover its money market activities, the trading of securities and hedging activities using a range of derivative products. ING Bank is also utilising specific functionality within the Guava suite to manage complex securities including mortgage and asset backed securities.
Glenn Baker, ING Bank's head of funding and investment, says: "The product’s work-flow capabilities have been used to streamline processes whilst maintaining appropriate controls. The effect of these efficiencies has been a reduction in manual processing which has in turn reduced the number of support staff and lowered the cost base."
"The new system has resulted in a very significant improvement in the automation of our processes, particularly in the handling of our swaps, and the complex MBS and ABS portfolio," he adds.
CCK has adopted a rapid implementation methodology for its new generation products. At ING implementation times were halved, says the vendor, enabling the bank to commence the parallel run less than six weeks after the project commenced.