CCK wins Philippines Bank for its Treasury Management Solution

Perth - 27 February 2007

CCK Financial Solutions Ltd (CCK), a leading provider of treasury and capital market solutions, today announced it has received a letter of intent from United Coconut Planters Bank (UCPB) in the Philippines, for the implementation of Guava Suite, CCK’s treasury management system.

UCPB will be using Guava to handle its total treasury functions as well as its Trust Banking functions.

For UCPB’s treasury operations, the system will cover its money market, foreign exchange and securities trading, for dealing, risk management, settlement, accounting and regulatory reporting functions. Guava will also be accessible from UCPB’s 178 branches for customer based foreign exchange, money market and securities investment needs.

For UCPB’s Trust Banking operations, Guava will handle its customer portfolio management as well as its Unit Investment Trust Fund.

Mr Joseph Wong, Managing Director, CCK said, “We are delighted that UCPB has selected Guava as its treasury and trust banking solution of choice. This is CCK’s first Guava client in the Philippines, and it is also CCK’s first Trust Banking client. The successful implementation of Guava for UCPB’s Trust Banking operations will open up a new line of business for CCK in the Philippines.”

Mr Yul Catabran, the head of UCPB’s treasury, said, “UCPB went through a very detailed evaluation of systems. The evaluation team was impressed with the versatile functionality of Guava, and in particular its functionality in dealing analytics. The system will assist the treasury in its evolution into a more active department focussed both on the distribution of our products to the Bank’s customers, as well as our proprietary trading.”

Mr. Kevin Kwok, the head of UCPB’s Trust Banking division, said, “UCPB went through a detailed evaluation process before selecting CCK’s solution for our trust banking requirements. The selection of the same system as Treasury will provide the Bank with some synergy in systems.

The flexibility of Guava will enable the Bank to continue to roll out more products for our customers, as well as ensure that the Bank provides an excellent level of service for our customers. UCPB’s UITF has been one of the best performing funds in the Philippines, and the implementation of Guava will enable us to continue the delivery of results to our customers.”

Guava is a fully integrated suite of front to back office treasury and wholesale banking applications, which provides users with effective straight through processing. The suite of products cover dealing (including pricing of financial products, portfolio analysis and deal capture), risk management (including limit management, computation of Value at Risk and compliance reporting) operations (including confirmations and settlement) and accounting.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development