Rabobank International has licensed software from Principia Partners to support its new municipal Guaranteed Investment Contracts (GIC) business at its New York office.
The Principia System provides full deal capture on GIC products and will enable the bank to manage and maintain audit trails of GICs.
Rabobank will also use the software to deliver accounting and reporting services to its GIC clients.
John Gallagher, executive director, Rabobank, says Principia Partners will provide the tools required to make an accelerated entrance into the muni-GIC market.
In addition to municipal GIC processing and risk management, the system will provide support for associated product line assets and derivatives.