NORINCHUKIN INTERNATIONAL PLC IMPLEMENTS MUSKETEER STP

AFA Systems, the global provider of advanced software solutions for the Banking and Asset Management industries, is pleased to announce that Norinchukin International plc has chosen and implemented Musketeer STP, its Treasury and Capital Markets System. Norinchukin International plc is the London based wholly owned subsidiary of The Norinchukin Bank, one of Japan’s largest and distinguished banks.

Part of the implementation process at Norinchukin International plc involved enhancing the Musketeer STP Capital Markets functionality, including the introduction of a number of specialist trading instruments, regulatory reporting requirements and two way interfaces to external settlement systems using XML based techniques.

The results of which have produced an innovative, groundbreaking, state of the art Straight Through Processing (STP) application with full exception management facilities. This will enable Norinchukin International plc to significantly streamline its Back Office operations, benefit from enhanced Operational Risk controls as well as make considerable operational efficiencies.

Annabel Levin, Technical Director, AFA Systems plc said, “ This has been a successful first phase implementation requiring considerable software development and business knowledge, which was implemented to a very tight schedule. The expertise of the Norinchukin International plc project team, coupled with the AFA product, consulting and development skills have resulted in an advanced technical solution, delivering the immediate business benefits of STP on a modern platform to accommodate business growth and diversity”. She went on to say that work has been underway since the beginning of the year with Norinchukin International plc to complete the final phase of the implementation.

Akira Kurihara, Deputy Managing Director at Norinchukin International Plc said, “One of the main reasons we selected Musketeer STP was its obvious flexibility. The excellent skills of the Development team have delivered and continue to deliver functionality to market standards. With the completion of the second phase of the implementation, we will achieve STP for our key daily business routines. We take the view that Musketeer STP will be able to expand to meet our changing business environment and envisage this as a long term ongoing relationship”.

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