- Trema further strengthens its offering by bringing top-tier technology to mid-sized central banks
London, 16 March 2005 - Trema, the leading provider of treasury and asset management software for global corporations and financial institutions, today announced a pioneering 'Factory Solution' designed to streamline implementation of its central banking technology for mid-tier government financial institutions. This concept encompasses a fully preconfigured solution and an innovative implementation methodology which reduces costs and minimizes the impact on banks' resources, while delivering the same technology and functionality as used by larger central banks.
The Factory Solution is designed to meet the needs of global mid-tier central banks, which face increased regulatory and performance challenges with limited resources. In addition to streamlined implementation, further benefits of the Factory Solution include fixed pricing, a pre-defined time limit and minimized implementation risk. These benefits are unique to this method and, when amalgamated with the fact that client resources are employed to a minimal level, show that this approach has maximum efficiency in mind.
The Trema Suite v.6.5 currently manages over 80% of Eurozone's foreign reserves and is used by a wide range of central banks and government institutions globally. Trema's accumulated industry expertise has been crucial in developing the innovative Factory Solution methodology. The Factory Solution differs from traditional methodologies in that consultation and configuration mainly take place offsite. Mid-tier central banks can now use fewer resources, compared to larger central banks, to implement the same technology, whilst achieving the same benefits. The Factory Solution significantly reduces the effort required on the client side.
Giovanni Mascarenhas, Manager - Treasury Financial Applications, The World Bank, commented, "Solutions providers are key to the evolution of any central bank's infrastructure and levels of efficiency. The World Bank believes that innovation and commercial awareness in system selection is key to our clients' progress in the long term. We will continue to work with central banks on a global basis to implement streamlined technology to improve operational efficiency through training projects."
Terry Beadle, Executive Vice President and Head of the Government sector, Trema, stated, "Trema draws on the combined expertise of Central Banks worldwide to set the standard for market operations, risk and performance management in this space. The Factory Solution means that we can now offer mid-tier central banks an implementation approach that suits their needs. We have already successfully executed the Trema Suite using the new methodology in the Central Bank of Trinidad and Tobago and we plan to work with more mid-tier organizations going forward."