China Systems Update December 2012
SUN Bank launches Global Treasury System using China Systems’ Eximbills Enterprise
E. SUN Bank has recently announced the successful launch of their new Global Treasury System developed in partnership with China Systems, the world’s leading trade finance, payments and supply chain finance solutions vendor. The pilot site for the system was the bank’s new branch in Singapore, which officially opened in July.
E. SUN Bank is the first client to adopt China Systems’ Java EE-based trade finance system, Eximbills Enterprise, as a platform to address their centralized global financial business requirement in developing their Global Treasury System. After going live in E.SUN Bank’s Singapore branch, the Global Treasury System will eventually be rolled out to the bank’s Head Office and all their overseas branches.
The Global Treasury System covers both front and back end treasury transactions and is 100 percent compliant with SWIFT MT3xx Series messages. As part of its support for MT3xx messages, the system provides a matching mechanism for MT300 and MT320 messages thus allowing the straight through processing of large volume Foreign Exchange and Money Market transactions with the system automatically validating counter-party transactions. This significantly reduces errors typically experienced in manual processes and substantially increases efficiency of operations. In addition, Securities transactions are also supported, which includes a variety of interest-bearing bonds.
The main advantages of the Global Treasury System are its inherent capability to support business diversity, flexibility, and ability to integrate to the bank’s dealing solutions. The Java EE platform is also in line with E. SUN Bank’s IT strategy for a global development framework which will allow them to support and maintain a centralized, single platform Global Treasury System for bank-wide deployment.
The flexibility of the Global Treasury System provides significant business benefits to E.SUN Bank as it is
able to deliver new time-to-market business products, and better and more financial services to its
clients worldwide, resulting in a rapid global expansion of their business..
CS ‘iPad 2’ Prize Draw won by Uwe Noll of Deutsche Bank at prestigious event in Dubai, UAE!
Vincent O’Brien, in his role as China Systems Trade Finance Advisor, concluding the China Systems PrizeDraq held during the IFC Partners meeting in Dubai in October. Mr. Uwe Noll, Director, Global Transaction Banking of Deutsche Bank was the proud winner of an iPad 2. Pictured above are Vincent O’Brien, Uwe Noll, Stefan Tryggvasson of China Systems and Bilge Osik of IFC.
We would like to Congratulate Mr. Aydin Musayev, from Baku, Azerbaijan, who was nominated to get the ‘China Systems Diploma in Export Operations Scholarship’ Compliments of China Systems
Mr Musayev will now continue his studies and avail of the EUR 2000 scholarship for the Diploma in Export Operations from eBSI courtesy of China Systems!
To subscribe to this ezine simply go to www.ebsi.ie and we will add you to our subscriber list and add an entry to the draw for a free scholarship for our International Trade Specialist Accreditation worth EUR 2000!