Following the bank’s successful re-capitalisation last year, Thai Military Bank launched a long-term strategy to improve services to international standards. First Vice President of Thai Military Bank’s Treasury Department, Kamolwan Silapiruti states, "In line with the bank’s objectives, it was essential that our Treasury Department adopted an internationally-recognised solution, which will put us on a par with major players in the global financial markets."
Khun Kamolwan goes on to say, "Our chosen solution was required to meet a number of pre-determined criteria; these include an integrated solution, delivering straight-through-processing (STP), with a modern database architecture. We also wanted a system that would provide a foundation for enhanced risk management capability within the bank and offer ease of integration with existing core systems, as well as achieving live operation in the shortest possible time."
The selection of a new Treasury solution for installation at Thai Military Bank’s Head Office in Bangkok was one of the first steps towards realising the bank’s long-term objectives. This process involved evaluating a variety of different packages and conducting detailed workshops. Three systems were short-listed for further in-depth examination, with MKI’s OPICS product being selected as Thai Military Bank’s preferred solution.
Khun Kamolwan explains, "Some of the deciding factors which influenced our choice of OPICS was the system’s excellent international track record and STP capability, allied to MKI’s strong commitment to Thailand."
Thai Military Bank PCL is the second major Thai Bank to select OPICS to streamline its treasury operations; Thai Farmers Bank are implementing OPICS together with MKI’s advanced suite of MKIRisk components to deliver centralised treasury and risk management. Standard Chartered Bank has also announced that it will implement OPICS to support its substantial treasury operation in Bangkok as part of a major program to install OPICS world-wide