Family Bank in treasury and risk management tech revamp
Profile Software gains new client in Kenya
Kenya-based Family Bank has implemented Profile Software’s Acumen treasury management system.
Acumen was developed by French tech firm Login, which was acquired by Profile last year.
The solution integrates with the bank’s core system, Flexcube from Oracle FSS. (Incidentally, Login was a partner of Oracle FSS and its Acumen system was often Flexcube’s third party component for treasury management.)
Acumen “will act as the backbone of all treasury transactions” at Family Bank, Profile says, “as it includes all dealing systems and ensures reliable straight-through processing (STP) with real-time interfaces upstream from several trading platforms and downstream to the back office solution”.
The bank also opted for the vendor’s risk management tool, across all of its trading activities.
“Our treasury department requirements are pretty demanding,” says Roseanne Wanjiru Ndungu, head of treasury at Family Bank. She cites Acumen’s flexibility, automation and integration capabilities as key reasons for its selection.
Family Bank in the fifth largest bank in Kenya, with 93 offices and over 1.8 million customers. Its treasury department “is very active in the local inter-bank money market and foreign exchange”, according to Profile.
