Wall Street Systems Celebrates 15 Year Relationship with Bank of Estonia

Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today celebrated 15 years of continuous service for Bank of Estonia. Estonia was the first central bank to invest in Wallstreet Suite, which has since become the central banking platform of choice - adopted by the European Central Bank and almost all EU members over time, including; Germany, France, Italy and Spain.

Following the fall of the iron curtain, Estonia regained its independence in 1991, and restored the Bank of Estonia. Without existing architecture and the need to compromise, Bank of Estonia had the opportunity to employ a completely new central banking platform. They chose Wallstreet Suite, known in 1994 as TremaSuite. Over 15 years, Bank of Estonia has upgraded several times and is already planning the upgrade to version 7 of Wallstreet Suite.

Wall Street Systems worked with Bank of Estonia as Estonia joined the EU in 2004. With many European central banks already using Wallstreet Suite, the process of harmonizing with their software at this crucial stage was achieved easily and efficiently.

Bank of Estonia has 18 users of Wallstreet Suite for Foreign Reserve Management front to back office, with a number of interfaces to other systems including accounting and settlements.

Toomas Ordlik, Head of IT at Bank of Estonia said: "Wall Street Systems has been a reliable partner for Bank of Estonia and each upgrade has shown increasing professionalism. Wallstreet Suite has consistently met our changing business needs over time, from our first few years as a new central bank to joining the EU."

Terry Beadle, Managing Director at Wall Street Systems, said: "We have supported Bank of Estonia over the past 15 years, adapting to changing business needs and creating new technological solutions to meet them. It was a time of great change for Eastern Europe and Wallstreet is delighted to have participated in providing solutions to the challenges faced by Bank of Estonia, and banks across Eastern Europe. We look forward to a continuing partnership with the bank."