Sumitomo Mitsui Trust Bank takes Acumen to reside with Flexcube
It has been announced that the Acumen system from Profile Software will handle the front office treasury requirement of the six-site technology refresh that is underway at Sumitomo Mitsui Trust Bank (SMTB), reports Martin Whybrow.
There is a degree of predictability with this as Acumen is a common treasury solution alongside Oracle FSS’s Flexcube core banking system.
As FinTech Futures recently reported, the bank is believed to have selected Flexcube for corporate banking across core, lending and payments technology for six international locations comprising China, Singapore, Hong Kong, Thailand, UK and US, plus Japan.
Although sold together via a long-standing partnership, Profile Software says Acumen was taken after a “thorough vendor evaluation”.
Acumen and Flexcube have been integrated over the years, so this is a common combination. Acumen handles front office for FX, MM, OTC derivatives, securities and exchange-traded derivatives.
Valuation of instruments can be shared with the Flexcube back-end for accounting. Acumen will replace multiple treasury front-ends currently in use at SMTB.
While Acumen is being implemented for the international sites, it is believed the deal does not include Japan.
