Nordic Investment Bank, Finland, Connects Login-acumen to a Treasury Back Office and Accounting System

17 December 2008

Login SA announced today that Nordic Investment Bank (NIB) has gone live with its interface from Login Acumen to its new Treasury Back-office system at its head offices in Helsinki, Finland, to achieve straight-through automation to the back-office. The Go-live was on 24th November.

Login SA is a leading supplier of advanced and integrated front office trading and risk management systems for treasury, derivatives and capital markets instruments. Login’s leading product Login Acumen is built on 20 years of experience gained with major European Banks and financial institutions.

NIB is an AAA rated International Financial Institution established in 1976. It is owned by the five Nordic States (Denmark, Finland, Iceland, Norway and Sweden) and three Baltic States that joined in 2005 (Latvia, Estonia and Lithuania). The Bank provides long-term loans on market terms to private and public projects that strengthen competitiveness and enhance the environment. NIB acquires the funds for its lending by borrowing on the international capital markets. The Bank has some 170 employees and total assets amounting to EUR 20 billion.

NIB has been using Acumen since 1998 in the front and middle-office for trading and risk management support for its operations in the Treasury, Capital Markets and Derivatives areas, including complex structures. As part of its Core System Renewal Programme, NIB has implemented a new Treasury Back-office system with a treasury sub-ledger. Login SA was invited to be part of the solution and provide an interface from Login-Acumen to the new Treasury Back-office system to achieve straight-through automation.

For Lena Lindblad, NIB Senior Manager, Head of Treasury back-office: “This solution allows us to avoid double input, facilitating the work of the back office for all products. This is real STP now! It reinforces Acumen's central role as a front, middle office and risk management support system.” “We asked for and received all the help we required on this project from LOGIN, for both development and consultancy needs” said Nomaan ul Haque, NIB Senior Manager, ICT Development. “This was especially useful on this project as most of the instruments traded by NIB are complex, so a considerable amount of customisation was required. Login’s knowledge of the business and good reputation here in Helsinki helped the decision to choose them for this project.”

“Login has a long experience in the banking industry in Finland since its very first system implementation, 19 years ago” said Patrick Woehrling, co-founder and Managing Director of Login SA. “We are proud to have been selected by NIB to provide this comprehensive, advanced interface from Acumen”. David Raffestin, Senior Consultant in Login SA, who performed the responsibilities of both project manager and also on-site consultant for developing and testing the interface, considers this project as “proof of NIB's trust in Login’s expertise and support services. A range of new developments are under discussion with NIB for next year also!”


 

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