Stockholm, 4 February 2002 - Trema, the premier provider of financial technology, today announced that the National Bank of Poland has selected Finance KIT, Trema's straight-through processing treasury, risk and asset management solution, to automate its reserve management in preparation for Economic and Monetary Union participation.
Poland will join the European Union (EU) in 2003. The implementation of Finance KIT 5.0 will play a major role in the bank's preparations before becoming and EU member and joining the common currency.
The National Bank of Poland will implement Finance KIT's front, middle and back office functionality enabling straight-through processing for handling its reserve management. By the time Poland joins the EU and the euro, Finance KIT will be live. The bank will implement Finance KIT version 5.0 on Windows 2000 with a total of 35 users.
Krzysztof Majczuk, Director of the Foreign Exchange Department, National Bank of Poland, comments, "The bank selected Finance KIT because it is a proven product. Trema is committed to the central banking sector and its expertise within this area is second to none. The significant investment Trema has made in Finance KIT for central banks since implementing it at the European Central Bank was very encouraging. Trema has developed a pre-configured database with extended collateral management functionality. We know that when we start our implementation project we will be in very capable hands."
Terry Beadle, Director of Government Segment, Trema, comments, "Our co-operation with the National Bank of Poland underlines the strength of our central banking solution and our experience in the market. We remain very committed to supporting the needs of central banks and this is continuing to yield positive results. The National Bank of Poland's decision to select Finance KIT continues Trema's 100% record on central bank's preparing for European Monetary Union. Trema is focussed on continued development of our central banking offering, providing our customers with a rich and proven product to support foreign currency reserve management."
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