Sri Lankan bank chooses Intellect for India 18 June 2015Chennai, India Reporter: Stephanie Palmer
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The Bank of Ceylon, a Sri Lankan institution, has chosen the Intellect One Treasury Solution to provide treasury management for its Indian operations.
The solution provides front- back and middle-office functionalities to increase productivity and provide fast time-to-market. The implementation comes with a trend towards institutions looking for new treasury and risk-management solutions for streamlining global operations.
According to Intellect, increased controls and regulations on treasuries means management systems have become more complex.
The One Treasury solution is designed to help banks make the transition from merely managing their risk to using it to gain business advantage, thereby helping them to compete globally.
It also enables diversification of funding, regulatory compliance, integration of disparate systems and the agility required for new product development and risk visualisation.
K Srinivasan, Intellect’s executive vice president and geography head for the Indian subcontinent, Middle East, and Africa (IMEA) said: “Bank of Ceylon is the largest bank in Sri Lanka and their choice of Intellect Treasury for their India operations is yet another testimony of our treasury solution’s superior functionality and our leadership in the treasury space in the country.”
Nihal Surawimala, country manager for Bank of Ceylon in Chennai, India, added: “Bank of Ceylon has always looked for a state-of-the-art treasury solution that has robust features and having out-of-the-box report framework to address the statutory requirements.”
“We are delighted to partner with Intellect for our treasury operations in India, due to their capability to provide not just India-ready solution, with an extensive experience of over 20 banks in India but also with adequate globally acceptable treasury functionalities.”
Fast-track deployment of the solution is expected to begin in the last week of June in 2015.
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