The Monetary Authority of Macau (AMCM) has licensed Financial Object's activebank2 and will roll out the system at its corporate headquarters and business groups across the organisation.
AMCM has selected the accounting, treasury, risk management and payments modules from the component-based package to replace its legacy systems. This initial selection forms part of a larger project which encompasses human resources and purchasing.
Financial Object says the implementation will improve AMCM's STP rates, reduce risk and improve efficiency and accuracy across the enterprise.
Rufino Ramos, executive director, AMCM, says the bank was looking for a one-stop solution: "Not only did the system have to tie together our banking applications in one easy-to-use platform, it also needed to be flexible enough to adapt to constantly evolving requirements."
The contract marks Financial Object's first win in the Chinese market.