Delivering improved visibility and control while simplifying compliance throughout the organisation, the WallStreet Treasury TremaSuite 6.5(tm) deployment will fully integrate and automate the Bank's Foreign Reserve Management and Monetary Policy operations, including consolidated accounting and audit.
"We selected WallStreet Treasury TremaSuite based on its end-to-end capabilities and flexibility to integrate seamlessly and cost-effectively within our existing in-house systems," said Frantisek Szulenyi, director of Risk Management at the National Bank of Slovakia.
"The immediate visibility and control which the solution provides will help us reduce costs and deliver a significant return on investments."
TremaSuite already has a proven track record with most of the central banks within the European System of Central Banks (ESCB). As one of the more recent entrants to the ESCB, the NBS will benefit from TremaSuite's latest Central Banking Accounting Module (CBAM) to fully bring the bank in line with revised Eurosystem accounting standards as drawn up by the Governing Council of the European Central Bank.
In addition to CBAM, the NBS has acquired TremaSuite product licenses for its Real Time Platform, Foreign Reserve Management Module, Monetary Policy Module, Performance & Attribution Module and the Accounting Module.
"This win brings the total number of central banks using TremaSuite to
18 and the number of government financial institutions in the company's portfolio to 40," said Terry Beadle, Regional Vice President, Government & ROW at Wall Street Systems. "It has also given us the opportunity to demonstrate how effectively our technology can be used by new entrants to the ESCB. The governments of Estonia, Bulgaria and Poland are already among our customers and we believe our success with NBS reinforces our proven track record in delivering best-practice implementations to central banks both across the globe and in this strategically important region."
The implementation project, which began on September 4th 2006, is expected to be competed by July 2008. It will be carried out by PreFIS, Wall Street Systems' Slovakian sales, implementation and support services partner for TremaSuite since 2001.