Siam Commercial Bank (SCB) has completed a front to back, cross product installation with the implementation of the fixed income component of FNX Solutions’ Sierra Treasury Solution.
FX Cash, FX Option, Money Market and Fixed Income transactions can be input into both the banking and the trading book via entry screens and/or interfaces to FNX’s Sierra Treasury system. The real-time STP functionality speeds the verification and confirmation processes with payments being sent out to the SWIFT network or being exported to other SCB payment systems. At the same time, accounting entries are created for the different trade types and purposes in the Sierra General Ledger.
“The ability to integrate cross product workflow on one platform is a major milestone for the bank resulting in improved operational efficiencies and reduction in areas of operational risk” said Pakorn Peetathawatchai executive vice president for treasury at SCB. “FNX understands our local market needs and has developed market-specific enhancements to Sierra Treasury while still enabling SCB to expand the products offered by the treasury.”
“Understanding client needs is critical to the success of every project we undertake,” said Mark Bell, Head of South East Asia, SCB. “With SCB, cross product, front to back integration was a major goal along with the ability to customize our solution to fit local market requirements. We believe that our solution enables the bank to address real-time market, credit, and operational risk for a wide variety of products.”