Union Bank Selects Eurobase's Siena for its Treasury Operation

15 June 2004 - Eurobase Banking Solutions has won a contract to supply the Union Bank for Trade and Finance, Amman, Jordan, with its treasury management solution, Siena. The system will support the bank’s front and middle-office treasury operations in Amman.

Siena will integrate seamlessly with the bank’s automated trading systems as well as its back-office system/core banking system Bankmaster™ facilitating straight-through processing and significantly lowering transaction-processing costs. Siena’s ease of use and functionality will allow system users to focus on trading and revenue generation and less on trade management, manual processing and error correction.

Positional, exposure, cashflow, risk and credit displays, including full CLS and margin trading functionality, across all asset classes including FX, MM, Bond and Derivatives, will provide the bank with instant real-time information. This is supported by extensive settlement and reporting capability giving the bank full control of its treasury function, minimising operational and market risk and maximising trading room revenue.

David Mallinder, Head of Business Development & Sales at Eurobase Banking Solutions, commented, "Eurobase’s increasing reputation for delivering high-performing and functional real-time systems and services that really improve trading room efficiency as well as productivity is proving key to our recent successes. We are delighted that Union Bank has chosen our Siena system to support its trading operation"

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