BOC selects Intellect One Treasury Solution to drive end-to-end treasury management for India

Tuesday, 23 June 2015 00:09 - - {{hitsCtrl.values.hits}}

Intellect Design Arena Ltd., a specialist in applying true Digital Technologies across banking and insurance, today announced that Bank of Ceylon (BOC), a leading foreign bank from Sri Lanka has chosen Intellect’s One Treasury Solution to drive end-to-end treasury management for their India operations. This is the first foreign bank in India to choose Intellect’s One Treasury solution, to deliver front-mid-back office functionality for its India operations. The fast-track deployment, of five months, is expected to go-live in the last week of June, 2015.

Financial institutions are looking for enterprise treasury and risk management solutions that can streamline their global trading operations and help make insightful decisions. Treasurers are in desperate need of central enterprise-level global solutions that go beyond mere operations execution. They require intelligent solutions that will assist them in making insightful decisions and utilise advantages of arbitrage opportunities, monitor global exposure and leverage risk information for Performance Management.

Intellect One Treasury, the Integrated Risk and Treasury Management Solution, will help the banks to transition from managing risk to leveraging risk for business advantage thereby giving the bank the upper edge to compete globally. Intellect One Treasury enables diversification of funding, regulatory compliance, integration of disparate systems, agility essential for new products development and extreme risk visualisation.

EVP & Geography Head, Indian Subcontinent, Middle East, and Africa (IMEA) K. Srinivasan said, “Bank of Ceylon is the largest bank in Sri Lanka and their choice of Intellect Treasury for their India operations is yet another testimony of our Treasury solution’s superior functionality and our leadership in the Treasury space in the country. I’m confident that Intellect Treasury will help the bank streamline their business, operations and processes.” Bank of Ceylon, Chennai Country Mana-ger Nihal Surawimala said, “Bank of Ceylon has always looked for a state-of-the-art treasury solution that has robust features and having out-of-the-box report framework to address the statutory requirements. We are delighted to partner with Intellect for our treasury operations in India, due to their capability to provide not just India-ready solution, with an extensive experience of over 20 banks in India but also with adequate globally acceptable treasury functionalities. With this implementation, we look forward to an easy banking interface, statutory reports which are critical to equipping us with the competitive advantage.”