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Bank of Singapore Licenses Spectrum From Financial Software Systems

Financial Software Systems, the leading provider of integrated wealth management, treasury and capital markets software, today announced that Bank of Singapore has licensed the Spectrum System for its Singapore and Hong Kong branches. Bank of Singapore has been named the "Best Private Bank in Singapore in 2010".1 Spectrum will act as Bank of Singapore’s new global collateralized trading solution for Foreign Exchange, FX Options and Non-Deliverable Forwards. Spectrum will be utilized for front-office and middleoffice
processing including deal capture, real-time margin limits and exposure management, as well as multilingual confirmations and consolidated customer statements.

Joseph Kubeyka, Managing Director of Financial Software Systems, Asia Pacific noted, "We are very excited to partner with one of the leading Private Banks in the world. Bank of Singapore’s selection of Financial Software Systems and Spectrum further validates our leading position in the Asia Pacific financial technology market, and the Private Banking sector in general.”

Bank of Singapore was formed in 2010 by the combination of the former ING Asia Private Bank and the private banking business of OCBC Bank, one of Asia’s leading financial services institutions. As a wholly-owned private banking subsidiary of OCBC Bank, Bank of Singapore offers a fully open-architecture product sourcing platform while leveraging OCBC’s extensive branch network and entire value chain of specialized financial services.