The project involves the implementation of the FTI STAR treasury system, which will be used by Land Bank to manage its financing and loan book. This is FTIâs second systemâs success in South Africa. Last year, it won a similar project with South African Post Office (SAPO). SAPO is one of the largest businesses in South Africa, with 2000 outlets and delivering to an area of 1.2 million square kms. FTIâs treasury system is now used to support the banking part of the business.
FTI have been active in South Africa since 2006, initially working for the National Treasury to benchmark treasury operations in fifteen of the largest State-Owned Enterprises, including South African Airways, National Housing Finance Corporation, National Roads Authority, Export Credit Insurance Company, Road Accident Fund and Eskom.
Announcing the new contract Eddie Fogarty, Managing Director, FTI said: âSouth Africa has escaped better than most economies from the financial markets collapse. Prospects for more business are excellent. We are delighted with this further success, especially having beaten competition from the biggest systems companies worldwideâ.
Founded in 1988, FTI provides treasury management, systems, consultancy and training to an international base. Clients include corporates, banks and finance ministries. The focus is treasury - cash management, debt, financing, fx and risk management. Other clients of FTIâs systems include the Central Bank, Iceland and the Finance Ministry, Romania â the latter uses FTI STAR to manage its sovereign debt.
FTI employs 25 and has a software development company in Sofia.