19 January 2006
APS Bank, a Maltese bank, has selected SimCorp’s IT/2 for straight- throughprocessing of its treasury and investment management operations.
The system will be used for straight-through-processing of the bank’s Investment Management, FX Dealing, Back Office Settlements (via SWIFT) and Accounting activities. IT/2 will also handle Asset and Liability Management, Risk Management and the production of statutory reports, including MFSA and Central Bank submissions.
Following a detailed evaluation, APS Bank found that the depth and breadth of IT/2 functionality provided an optimal solution for their needs, at a cost that is justifiable for a small bank. "APS liked the user friendliness and flexibility of IT/2 which we found gave more long term benefits than more expensive best of breed solutions", said Sandro Baluci, Senior Manager at the Bank’s Asset Management Division.
"The straight-through processing and reporting capabilities of IT/2 will deliver extensive resource savings and improved control at the bank" added Mr. Baluci.