Calypso Technology, Inc, an application software provider of an integrated trading and risk management application suite to the capital markets industry, announced that Standard Bank International, an emerging markets bank with operations throughout the world, has gone live with the Calypso system for cash management. In addition, the bank has already started expanding usage of the Calypso platform by adding securities processing capabilities.
Standard Bank International has adopted the Calypso platform as a centralized application for the firms London cash management business. The Calypso cash management application manages the banks cash flow projections in real-time and users are able to monitor and explain balance composition.With the Calypso system, we have been able to implement a number of control levels to reduce operational risk and address our compliance needs in a more effective manner, says Peter Hosier, head of operations, international at Standard Bank. At any given point in time, a senior manager is able to view the banks cash positions on a consolidated level.
Standard Bank International is looking to further consolidate its back-office operations by adding securities processing to the Calypso platform. By reducing the number of systems and interfaces being used, the firm will benefit from significant cost savings as multiple asset classes are supported by the Calypso system. The centralized approach improves operational efficiency and reduces operational risk as processing is focused on managing exceptions according to a pre-defined set of controls.
D.C.