State Bank of Mauritius goes live on Credence iDeal |
Dec 1, 2009 |
| State Bank of Mauritius India treasury operations went live on Credence iDeal treasury management software. The software implementation covers the integrated treasury operations of both Rupee and Forex operations. |
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Credence iDeal is a comprehensive treasury software addressing all treasury requirements from front office to back office. It allows for mid office limit monitoring as well as VaR reporting for the treasury portfolio. The system supports local regulatory guidelines and helps in regulatory reporting. |
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Credence iDeal is already operational in a number of Indian banks notable being State Bank of Hyderabad, Indian Bank, Oriental Bank of Commerce. The current version 4.0 comprehensively addresses almost all typical requirements of treasury operations. |
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As the standard product is already attuned to Indian market requirements the bank went live in a record time. Speaking of implementation Mr. Ravi Kumar (CEO,State Bank of Mauritius) notes that "The first phase of implementation having been completed in a record time is attributed to the team work of Credence Analytics". Some of the salient aspects of the implementations are interface to market information system for live MTM, nostro recon and new interface to BARX market trading platform. |