CCK Financial Solutions Ltd (CCK), a leading provider of treasury management solutions, today announced that it has signed a contract with Philippine Business Bank (PBB), for the acquisition of Guava Suite, CCK’s treasury management and wholesale banking system.
Guava will be used to manage PBB’s entire treasury operation, covering dealing, risk management, settlement, accounting and reporting.
Mr. Joseph Wong, Managing Director of CCK, said “We are delighted that PBB has selected Guava as its treasury management system. This is our fifth client in the Philippines and consolidates our position as the system of choice in the country.”
“PBB went through a very stringent evaluation process, including a Request for Proposal covering its requirements in detail, then a detailed Proof of Concept. CCK won this contract against other global treasury systems.”
Mr. Rolando Avante, President and CEO of PBB said "PBB has been going through a period of strong growth. The implementation of a state of the art system like Guava will assist the Bank in improving our services to our SME client base in the area of treasury services. Our treasury is already an important contributor to the Bank's services to our clients, and our new technology will enable the Bank to continue to break new ground in innovative banking solutions for our clients."
Guava is a fully integrated suite of front to back office treasury application, which provides users with effective straight through processing. The suite of products cover dealing (including pricing of financial products, portfolio analysis and deal capture), risk management (including limit management, computation of Value at Risk and compliance reporting) operations (including confirmations and settlement) and accounting.