20 July 2018
Visit www.gemalto.com

World Bank chooses Summit to streamline treasury operations

06 August 2002  |  2562 views  |  0 World Bank chooses Summit to streamline treasury operations

The World Bank has implemented a new back office system supplied by New York-based Summit Systems in its treasury department.

The project involved integrating the new system with the bank's existing application environment, establishment of a Bloomberg interface and development of real-time links between the back-office, performance management and general ledger systems.

The system supports a wide range of instruments including bonds, money markets, repos, mortgage-backed securities, interest-rate derivatives, futures and listed options.

Tony Ferreira, director of treasury operations at The World Bank, comments: "Summit's core STP capabilities offer benefits for automated confirmation generation and dispatch, settlement messaging and payment processing plus real-time trading position views and accounting."

"The bank also worked with Summit to add customised Swift matching, repo repricing, securities pair-off processing and split trade processing for FedWire," he adds.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit info.nice.comVisit iliad-solutions.com/

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12912 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10356 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9758 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6789 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6594 views comments | 2 tweets | 7 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job