Bank of Ireland (BoI) has chosen Integral AutoDealer to automate its foreign exchange pricing and straight-through trade processing.
Integral will provide a central source for foreign exchange rates distribution with connections to BoI systems for instant rate responses. Margins will be applied automatically, based on the bank's rules regarding FX transactions.
Lorcan Connolly, director, information technology, Bank of Ireland treasury and international banking, says the bank chose Integral's solution after evaluating several other products on the market. "Integral's solution will enable STP for a number of channels, promote price consistency and allow for lower operational risks and costs," he says.
Integral AutoDealer, which is fully J2EE compliant, has been integrated with the bank's Oracle9i application server and IBM MQSeries.