State Bank of Mauritius (India Operations), a subsidiary of State Bank of Mauritius engaged the services of leading Indian financial technology solutions provider Credence Analytics (India) to implement an integrated trade and risk management system.
An integrated system will enable the bank's Treasury Group to manage its positions and risks on a single platform, and allow straight through processing of front to back office treasury transactions. The treasury system supports asset classes of Fixed Income, Money Market, Forex, Equity, Mutual Funds and Derivatives. The ALM module shall address the balance sheet perspective in monitoring and managing the Interest Rate and Liquidity Risk Management effectively.
Shown during the signing of the agreement are (seated from left) Vice President of Dealing Mr. Satyaprakash Sarangi, Vice president for Operations Mr. Sanjiv Shriyakar,Mr. Ravi Kumar, CEO SBM India (India Ops) ,Credence Analytics CEO Vijay Simha, Credence Analytics Associate Director M.R. Rajesh. Also present were (standing from lefts) SBM India AVP IT Information Technology Mr. Dhiraj, SBM India AVP Operations Mr. Avanish Srivastava , Credence RSM Mr. Gagandeep Singh.
About Credence Analytics:
Credence Analytics is an India-based, specialist financial software solutions company with strong domain and technology skills in the banking and financial services arena. Credence offers a wide range of specialised treasury, investment and risk management solutions which translate into high value propositions for clients.
The company has clients in South Asia and MENA region. Being an investments, treasury and risk products company, Credence solutions are pro-active and are kept current with the market and regulatory requirements.
About State Bank of Mauritius (India Operations)
State Bank of Mauritius Ltd set up its Indian Operations in November, 1994. The Bank has three (3) Branches in India comprising of Mumbai Branch which also serves as the Head- Office, the other two branches being at Hyderabad & Chennai respectively.
The Bank has been very agressive in its Corporate & Treasury Operations, though with changing times and Indian Economic Outlook, the focus is fast shifting to Retail and its allied activities.