Krung Thai Bank has chosen a combination of Reuters Kondor+ and Kondor Trade
Processing to provide an integrated front to back office risk management
solution for straight-though-processing of the bank's treasury and
investment activities. Reuters solution will be integrated to Krung Thai
Bank Core Banking System and it Data Warehouse System. Krung Thai Bank, listed on the Thailand Stock Exchange, has 620 domestic and six oversea branches from which it provides financial assistance to many businesses including corporates and state enterprises.
Pongsathorn Siriyodhin, First Senior Executive Vice President, Krung Thai
Bank, said: "With the installation of the new Reuters risk solution, we will
be able to generate significant growth in volumes of new and existing
treasury products and at the same rationalize operating costs and control our risks. The flexibility and openness of Kondor risk system enable Krung Thai Bank to achieve a straight through processing not only within Treasury operation but also to the bank's core banking system and its data warehouse.
We are planning to use the Kondor risk system to help modernise the bank's
treasury trading and management systems, provide advanced risk management
controls and upgrade our technology in support of our privatization strategy."
Mark Smith, Director of Solutions, Reuters Asia, said: "As Thailand's leading financial institution, Krung Thai Bank has dynamic plans to spearhead the growth of the Thai economy in the next decade. The bank aims to enhance its services, gain market share and, at the same time, reduce operating costs; they have chosen the Reuters integrated front to back office solution to meet this aim because of its capability of managing market, credit and operational risk whilst optimizing workflows and trade processing."
Kondor+ is a real-time position keeping system that offers a sophisticated and flexible means of managing deals and positions across all instruments. Kondor Trade Processing is a multi-entity system, designed to provide the back office with a full range of tools providing increased automation and effective risk management. Together, Kondor+ and Kondor Trade Processing offer a fully integrated front to back office solution. By using standard tools, Kondor+ and Kondor Trade Processing can be seamlessly integrated with other in-house or third party, front, middle or back office applications.
Today Reuters has over 11,000 users of its risk systems worldwide at approximately 500 institutions, ranging from single site installations to
global rollouts at top-tier banks.