Trema, the premier provider of strategic technology solutions and management consulting services, today announced that Finance KIT, its straight-through processing treasury, risk and asset management solution, now offers extended functionality. The new version 5.1, which is especially aimed at large and mid-sized banks, sees improvements made to its seamlessly integrated workflow engine to facilitate true STP, caters for the improved management of call money and call accounts, and introduces asset/mortgage backed securities. It also provides links to external libraries for the valuation of a broader range of instruments, and with specific calculations taking place on the server, improves performance. This means that Trema is better positioned to provide banks with the control and automation required for efficient streamlined operations.
Finance KIT’s seamlessly integrated rule-based workflow engine has been enhanced making it even more powerful and flexible. The improvements to the flow now enable bank treasuries to redesign and streamline business processes to achieve maximum straight-through processing and consequently minimize operational risk by eradicating errors.
In 5.1, enhanced Call Account and Call Money functionality has been developed in close co-operation with Trema’s banking clients to enable the management of a large number of call accounts or call money transactions in one central place. The system supports all the necessary Call Account and Call Money functions from trading to administration and accounting such as rolling-over a transaction, changing the interest rate of a call transaction/account, realizing the call interest or making a withdrawal or deposit all from one single application.
Finance KIT users can now trade asset and mortgage backed securities in version 5.1, and deals are processed in a truly integrated way from front through to the back-office. Users can also monitor their positions for asset/mortgage backed securities as well as perform extensive risk analysis.
Finance KIT has always supported all asset classes. In order to meet the future requirements of complex and exotic instruments, users can now link to external libraries for the valuation of any complex Foreign Exchange and Interest Rate product. Trema is incorporating market-leading libraries into Finance KIT allowing users to calculate positions, limits and reports using uniform valuation methods.
Finance KIT now fully supports multi-tier architecture. For example, Finance KIT’s real-time tools for position monitoring now perform calculations on the server, as opposed to the client side. This significantly improves scalability and performance.
Takis Hinaris, Director of Banking Segment, Trema, comments, “The introduction of Finance KIT 5.1 offers a much better solution for the banking sector. We can now offer a more powerful front-to-back office solution with a wider catalogue of instruments as well as new general ledger functionality. Trema has an impressive portfolio of banking clients to which we added more than 10 financial institutions in 2001 and to whom we can now offer a wider range of functionality specific to their needs.” Hinaris continues, “Trema is wholly committed to the banking sector and we will continue to enhance Finance KIT in line with the needs of our fastest growing sector.”