Chile's Banco Credito Inversiones licenses Trema treasury system
28 June 2006 | 1914 views | 0
Trema, the leading provider of treasury and asset management software, announced today that Banco Credito Inversiones (Bci) has chosen TremaSuite, to be its single solution for all treasury and investment management across the organization.
The deal marks another milestone in Trema's continued success in Latin America, emphasizing the company's strategic commitment to growth in that market.
Bci, currently the third largest bank in Chile, with total assets of $15 billion (USD), needed to replace multiple outdated systems with a single treasury management technology. Bci ultimately chose the TremaSuite because of its proven track record as well as the product's flexibility and scalability and the cultural fit with Trema, which has a presence on the ground in Latin America and a team fluent in Spanish.
The implementation includes deployment of TremaSuite across Bci's treasury as well as the investment management departments to streamline transactions across all trading desks, apply real-time controls, help manage risk and automate the operations area. Because of TremaSuite's flexibility, Bci will be able to roll out the technology to other business units in the future, such as asset management and private banking, quickly and easily. The system also will support Bci's future plans to diversify its investment policy to include other investment products.
"When we began our search for a treasury solution, we looked for a cost-effective and highly adaptable system that would meet local requirements and return measurable value to our growing business," said Jorge Barrenechea, head trader at Banco Credito Inversiones. "With Trema, we have found not only the right technology, but also a trusted partner with whom we can work to meet our business needs now and in the future."
"We are delighted that Bci has chosen the TremaSuite to support the management of its treasury and investment management operations," said Trema Executive Vice President, Terry Beadle. "As a leader in this region's rapidly changing financial industry, Bci sees the benefits of replacing costly in-house solutions with a single system. We recognize Bci as a market innovator and look forward to working together closely as its business grows."