Affin Merchant Bank bites at CCK's Guava

Source: CCK Financial Solutions

CCK Financial Solutions Ltd (CCK), a leading provider of treasury and capital market solutions, today announced it has received a letter of intent from Affin Merchant Bank Berhad (Affin Merchant Bank) for the implementation of Guava Suite, CCK's banking and treasury management system, in the bank.

Affin Merchant Bank is an existing CCK customer, utilising CCK's INFINITY software, which covers its back office operations. The software will be upgraded to the new generation Guava Suite.

Affin Merchant Bank will be using Guava Suite to handle its primary banking system needs, including the corporate banking, treasury, custodian and syndication departments, and covering both the bank's conventional and Islamic Banking divisions. The system will handle the bank's dealing, risk management, settlement, accounting and central bank reporting functions. For the bank's treasury, Guava Suite will cover the bank's money market, securities trading, and derivative trading activities.

Mr Joseph Wong, Managing Director, CCK said, "We are delighted that Affin Merchant Bank has selected CCK's Guava Suite. Coming on top of CCK’s recent win with the Southern Bank group, CCK is clearly gathering momentum in the region."

Affin Merchant Bank is being supplied a solution which delivers straight through processing, providing improved efficiency and higher levels of service to its customers.

Guava is a fully integrated suite of front to back office banking application which provides users with high levels of automation. The suite of products cover dealing (including pricing of financial products, portfolio analysis and deal capture), risk management (including limit management and computation of Value at Risk), operations (including confirmations and settlement), accounting and reporting (including both management and statutory reporting).

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