Source: Credence Analytics
Credence Analytics (I) Pvt. Ltd. today announced that BOB Capital Markets has selected Credence treasury solution to meet its treasury and risk management needs.
A combination of Credence iDEAL, Quadryx and RiskMark will help the primary dealer's treasury and risk management operations to increase efficiency and accuracy in funds management and deliver improved market analysis and trading.
BOB Capital Markets Ltd. is a wholly owned subsidiary of Bank of Baroda and is one of the unique investment banking companies in India. It offers the entire spectrum of financial services and being a primary dealer also provides facilities for dealing in Government securities. Fundamental to BOB Capital's future success for greater operational efficiency and increased automation, was the requirement for a comprehensive, fully integrated treasury and risk management system.
It selected Credence Analytics because of its ability to provide an integrated, straight-through processing solution across treasury and risk management. The combined solution will fully automate the management of treasury and capital market products, help increase the efficiency of treasury & risk management, and help enhance controls.
Mr. Manubhai Parekh, Managing Director, BOB Capital says "We set high standards for a treasury management system to help ensure that we could achieve our targets of straight-through processing and increased efficiency throughout our treasury operation.
We selected Credence after examining various industry offerings and recognising iDEAL's extensive functionality. Credence iDEAL has a proven track record and implementation experience. We believe that we can benefit from Credence's expertise in the arena of derivatives and market risk."
Mr. M R Rajesh, head - banking solutions, Credence Analytics says, "Primary dealers are looking for solutions that have strong risk compliance and business scalability functionalities. With reduction in trading volume in bonds, it is also imperative that the treasury solution should allow extendibility into other areas like derivatives, equity trading, PMS services, third party distribution, etc. This capability of Credence solution is what makes us different."