Source: STB Systems
Turkish Bank (UK) Limited, the London-based subsidiary of Turkish Bank Limited of Northern Cyprus, has signed a contract with STB Systems Limited to migrate its FSA and Bank of England reporting as part of a core systems upgrade.
The contract will see STB Systems install modules to accept data from a new Temenos Globus system, which is due to replace Turkish Bank's in-house banking system later this year.
STB Systems is providing consultancy to upgrade Turkish Bank's automated regulatory reporting, using STB-SuperConsolidator and STB-Reporter software, to produce among others, the Liquidity Report (LR) and Large Exposure Report (LE3) when the Temenos system goes live. In addition, Turkish Bank has contracted with STB to provide automation of its Section 17 Inland Revenue returns of interest via STB-Taxman.
"We have worked with STB for over three years, automating the reporting function for our in-house systems," commented Jonathan Kent, Financial Controller at Turkish Bank (UK). "When we decided to upgrade our core systems we knew that bringing STB along to integrate with it was the right choice - they know our Bank, our systems, and most of all the process of regulatory reporting."
STB has been able to successfully integrate with the new system very quickly thanks to STB-SuperConsolidator's easy interfacing to the data from Temenos. STB started work just 12 weeks before the go-live date, with staged delivery of reports to meet monthly, quarterly and annual reporting deadlines.
"STB is the best software supplier I have dealt with," added Kent. "The service and support we receive from them is excellent, and we know they can and will deliver against their proposal."