IKB Deutsche Industriebank (IKB) has selected Finance KIT version 5.1, the treasury management package from Trema aimed at large and mid-sized banks, to automate its back office.
IKB, which specialises in the provision of long-term finance to enterprises and individual enterpeneurs, says it will use Finance KIT to process transaction data on a group-wide level, including bonds, equities, money market instruments and FX deals, as well as sophisticated structured derivatives.
IKB looked at nine potential vendors, some offering pure back office functionality and others with front-to-back office capabilities. Bernd Greitemeier, project manager, IKB, says: "By selecting a complete front-to-back office solution, we have a number of options open to us."
The bank will implement the software on Oracle, the standard database used at IKB for all other applications.