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-First dedicated service to provide comprehensive outsourced business and IT support
- Volvo named one of the first to sign up

London, 16th May 2002 - Nordic Financial Systems (NFS), the specialist financial system service provider, today announced the launch of Treasury Support Center (TSC), a comprehensive IT and business support service for the corporate treasury departments of multinational corporations and their subsidiaries.

TSC is the first service of its kind that enables corporate treasuries to maximise their IT environment and the potential of their treasury operations. TSC is a scalable, global service ensuring high availability and optimisation of systems and boasts fast response times to all problems. The service comprises four main components: support, surveillance, maintenance and development and is supported by a dedicated team of IT and business specialists with extensive experience within the corporate treasury industry.

Volvo Treasury, which supports all Volvo companies with treasury and cash management related services, was one of the first companies to adopt TSC. Anders Osberg, President, Volvo Treasury AB, comments, "TSC, in co-operation with Volvo Treasury internal staff, supports Volvo's treasury operations across three time zones. It is a solution that enables us to focus on our core business knowing that a team of experts is looking after our system environment. The support is playing a vital role in ensuring that we are running an optimal environment, which supports our business well and enables us to get the most out of the investment we have made in the technology we have chosen."

Magnus Lind, President & CEO, NFS, comments, "Treasurers need specialist support from people who understand their business and the IT set-up that can best support them. Too many times we have seen treasuries that are not working to their best ability and have helped treasurers who are not getting the support they need. We have established TSC to help them focus on the job they were hired to do while we give them the best possible IT environment and business support. We have been supporting corporate treasuries and their IT management and business operations since 1993. TSC is a natural service for us to provide as we believe we have one of the greatest concentrations of treasury expertise in the world. We expect a high level of uptake - initially from treasuries in EMEA and in Asia."

NFS partners with an increasing number of vendors enabling TSC to support a range of treasury systems, networks, servers and databases, among other applications.