New alliance offering banks in the region greater control through automation of treasury and investments

Sun, OCS and Synergy Log-in combine efforts to bring more automation to banks in the Middle East

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By  Mark Sutton Published  July 3, 2003

A new alliance of technology companies is aiming to help banks improve the management of their treasury and investment functions. Sun Microsystems, Oman Computer Services (OCS) and Synergy Log-in (Synlog) are working together to help financial institutions meet the demands of a more competitive environment.

The companies will focus on improving the operational risk for banks, and help them to increase profitability. As more and more regulatory demands are placed on banks in the region, and competition between smaller banks increases, so they are finding a greater need for more transparency and more control of their financial processes.

“Sun Microsystems recognizes that the financial sector in the Middle East is changing, and it’s important that solutions are available that can help banks and financial organistions adjust to the new climate,” said Klaus Miserra, Sun’s financial services practice manager for the Eastern Mediterranean, Middle East and Africa region (EMMA).

“Our new programme is designed for decision-makers who want to keep on top of new advances in technology and ensure that their companies fully realize the benefits these can bring,” he added.

Sun and OCS will deliver a package of solutions based on Synlog treasury an investment products, including education and consultancy services. By automating processes, banking customers will be able to view treasury and investment departments as profit centres, and better balance risk against return, at the same time as making sure they comply with regulatory requirements.

As Synlog’s representative in the Middle East, OCS is able to provide solutions for Straight Through Processing (STP) that speeds time of settlement processing and superior analytical functions for risk management, asset and liability management and core banking systems.

CE Potnis, general manager, Oman Computer Services, commented: “Our experience in the banking business has indicated that financial service organisations want greater insight into technology-enabled operational risk management and risk-return management. We plan to address the specific business needs of treasury and investment functions, with options that offer maximum return on investment and provide the flexibility necessary for organisations to manage periodic regulatory and economic change.”

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