Pareto Bank Chooses Portman to Support Its Treasury and Risk Management
Denmark & Norway - 30 May 2011
The privately owned commercial bank Pareto Bank ASA has chosen PORTMAN, the Portfolio and Treasury Management solution from ALOC, to support key operations.
Pareto Bank will be implementing PORTMAN across its Treasury operations, utilizing many of PORTMAN’s capacities in an integrated Straight Through Processing model which fully supports the integration of the bank’s central applications from EDB Ergo Group.
This solution is chosen with focus on vital strategic goals for Pareto Bank:
• Streamlining treasury operations to increase efficiency
• Enhancing risk management and compliance reporting
• Ability to expand the bank’s business timely and cost effectively
According to Erling Mork, Head of Finance and Asset Management at Pareto Bank ASA, Pareto Bank chose PORTMAN and ALOC due to its streamlined front-to-back deal registration, comprehensive reporting tools, and strengths in market valuation. As Erling states, “As a growing business it is vital to equip ourselves with a modern Risk Management solution. PORTMAN allows Pareto Bank to develop its use of financial instruments and offer new client services without losing track of its risk and keeping our staff and operating costs in check. ALOC’s local presence and high service level was also important to us.”
Inge Grini, Business Manager Norway, refers to this as a key project for ALOC: “With PORTMAN, we will enable Pareto Bank to better analyze its market risk, manage its liquidity portfolios, streamline its back office and perform compliance reporting in a comprehensive manner. ALOC has the technical solutions, the financial know-how and years of experience. Our ability to combine this with credibility for our customers is unique – and one of our strongest value propositions”, Inge states.