Co-operative Central Bank of Cyprus (CCB) has selected the Quantum system from SunGard Treasury Systems to manage its front, middle and back office treasury trading.
CCB is also implementing SunGard Treasury Systems' eTreasury suite of Internet-based treasury management solutions to enable its clients to access services via the Internet.
On behalf of its members, CCB's treasury division takes care of all wholesale banking and finance activities including FX, capital markets, and currency and interest rate risk.
"Quantum is quite flexible in terms of what we want to do now and in terms of future development," says Demetris Hasikos, treasury manager at CCB. "It covers a high degree of our requirements from front- to back-office, and has a very high level of straight-through processing."
The selection process started with 20 prospective software vendors, before CCB narrowed it down to five and then two, he adds. "CCB was particularly impressed with Quantum's dynamically configurable GUI front-end," says Hasikos. "And we wanted client-server technology with Microsoft Windows."
CCB will integrate Quantum with its retail banking systems and general ledger, and is currently in the first stage of implementation, which it expects to be complete by the end of October.