The National Bank of Slovakia has chosen Wall Street Systems to manage all of the company’s banking functions. The Wall Street Treasury TremaSuite 6.5 product will be used to automate the bank’s foreign reserve management and monetary policy operations.
“We selected Wall Street Treasury TremaSuite based on its end-to-end capabilities and flexibility to integrate seamlessly and cost-effectively within our existing in-house systems,” says Frantisek Szulenyi, director of risk management at the National Bank of Slovakia. “The immediate visibility and control which the solution provides will help us reduce costs and deliver a significant return on investments.”
NBS is using TremaSuite’s Central Banking Accounting Module to abide by the revised Eurosystem accounting standards set by the Governing Council of the European Central Bank. In the deal, NBS also received licenses for other TremaSuite products: Real Time Platform, Foreign Reserve Management Module, Monetary Policy Module, Performance & Attribution Module and the Accounting Module.
“This win brings the total number of central banks using TremaSuite to 18 and the number of government financial institutions in the company’s portfolio to 40,” says Terry Beadle, regional vice president of Government and ROW at Wall Street Systems. “It has also given us the opportunity to demonstrate how effectively our technology can be used by new entrants to the ESCB. The governments of Estonia, Bulgaria and Poland are already among our customers and we believe our success with NBS reinforces our proven track record in delivering best-practice implementations to central banks both across the globe and in this strategically important region.”
The implementation by NBS began in September and is expected to be finished in July 2008.