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Bank of China International licenses IT2 treasury management package

11 December 2007  |  1726 views  |  0 Source: IT2 Treasury Solutions

IT2 Treasury Solutions announces that BOC International Holdings Limited has selected the IT2 Treasury Management System to provide an integrated Best Practice solution for Front-to-Back office processing.

BOCI, which specializes in investment banking, is a wholly owned subsidiary of Bank of China Ltd. It has an issued share capital of US$ 450 million, and owns subsidiaries in Singapore, Hong Kong, London and New York. BOCI Group's sales network covers most major Chinese cities, including Beijing, Shanghai, Guangzhou and Chongqing. BOCI offers a full range of investment banking products and services to its rapidly expanding client base.

BOCI's Treasury team is staffed by over 12 professionals. Their core role is to provide working capital to the foreign and domestic subsidiaries. The IT2 project automates all central workflows, including dealing and management of external and internal transactions, monitoring and management of liquidity and exposures, confirmation and settlement of treasury transactions, and treasury accounting.

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