Standard Bank International has adopted the Calypso platform as a centralized solution for the firmâs London cash management business. The Calypso cash management solution manages the bankâs cash flow projections in real-time and users are able to monitor and explain balance composition. Peter Hosier, Head of Operations, International at Standard Bank, comments, âWith the Calypso system, we have been able to implement a number of control levels to reduce operational risk and address our compliance needs in a more effective manner. At any given point in time, a senior manager is able to view the bankâs cash positions on a consolidated level.â
Standard Bank International is looking to further consolidate its back-office operations by adding securities processing to the Calypso platform. By reducing the number of systems and interfaces being used, the firm will benefit from significant cost savings as multiple asset classes are supported by the Calypso system. The centralized approach improves operational efficiency and reduces operational risk as processing is focused on managing exceptions according to a pre-defined set of controls.
Hosier adds, âThe Calypso solution is a perfect match for Standard Bank Internationalâs ambition to bring innovative products to the market which has always been our competitive edge. As an example, we have worked with Calypso on a greenfield development to provide key functionality for TRAX2 reporting and matching as well as Tri-Party Repos.â
Charles Marston, CEO of Calypso Technology, says, âStandard Bank International is another example of a client where our relationship has evolved over time to cover multiple products and business areas, all supported on the Calypso platform as the foundation for the firmâs infrastructure. Our successful partnership with Standard Bank International is rooted in our ability to support the bankâs ambition to enter new emerging markets while adopting advanced technology. We are committed to working closely with clients to deliver innovative solutions.â