Deutsche PostBank Home Finance goes live on iDeal |
Dec 1, 2009 |
| Deutsche Postbank Home Finance, Indian home finance arm of Deutsche Postbank has decided to implement Credence iDeal Finance company treasury module in its treasury. The objective of implementation was to automate the treasury operations which were till then manual. Erstwhile BHW Home Finance has been quite active under new management and has increased its portfolio quite aggressively to Rs. 3750 crore. |
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Deutsche Postbank decided to go in for Credence iDeal after a thorough evaluation of all available options. Credence iDeal Finance company treasury module is well tested and has been operational in various large finance companies. Some of the notable customers on the list are L&T Finance, Shriram Transport Finance, Kotak Primus, Cholamandalam DBS Finance. |
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Given the maturity of the product and experience and domain expertise of Credence team, the implementation was completed within 2.5 months and treasury has gone live on the new system. The new system allows treasury to keep track of all its liability portfolio including ECBs, bank loans, NCDs etc. It allows treasury to keep track its liquidity position and various payment obligations involving various interest calculations. With well designed MIS, system allows treasury officials to focus on analysis and management action. Software also cuts their operational risk considerably. |