Union Bank For Savings & Investment goes live with Eurobase’s real-time front office system Siena

The Union Bank For Savings & Investment, Amman, have gone live with Eurobase’s real-time front office treasury management solution Siena. The system is being used to support the Bank’s multi-product trading operation covering FX, Money Market and Derivatives.

Full straight through processing is facilitated using Siena’s advanced generic import and export mechanisms. Seamless integration with the Bank’s electronic trading systems, and integration with the Bank’s existing Bankmaster™ back office system is increasing transaction processing efficiency, reducing the costs associated with trade processing and improving dealer productivity.

Siena provides best of breed front-office deal capture and trading support for a wide array of financial instruments. Fully web enabled the system has been specifically designed to handle very high trade throughput as a result of ever increasing e-trading volumes providing automatic multi-source deal capture as well as real-time system updates irrespective of trade origin.

Positional, exposure, cashflow, risk and credit displays provides the bank with instantaneous information. This enables the front office to focus less on trade administration and trade processing and more on revenue generation across the different asset classes.

Siena is an XML-enabled application facilitating easier connectivity to existing systems and significantly reducing implementation time and cost. Siena was implemented at Union Bank in under three months.

Suhail Amin, the Assistant General Manager at Union Bank For Savings & Investment, commented, "Siena provides us with the real-time functionality required to support our trading operation and improve our trading room revenue. The implementation was very quick and trouble free and we were impressed with the high degree of professionalism of the Eurobase team. We are delighted that the project was delivered within budget’.

David Mallinder, Head of Business Development & Sales at Eurobase Banking Solutions, commented, ‘We have developed Siena at significant cost to handle the real-time business needs of the front office and placed a strong emphasise on improving productivity through ease of use and highly performant trade processing. Siena offers the market unparalleled functionality across all key treasury products and is very highly regarded by both front office users and system support teams. We are delighted that Union Bank selected Siena and are now live’.

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