RAKBANK implements KASTLE

RAKBank has implemented ICICI Infotech Middle East’s KASTLE software to provide its treasury operation with an integrated management solution.

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By  Matthew Southwell Published  February 22, 2004

RAKBank has implemented ICICI Infotech Middle East’s KASTLE software to provide its recently established treasury operation with an integrated management solution capable of delivering straight through processing, risk management and back-office support. The solution has been deployed across RAKBank’s treasury operations in two locations. As a result, it links the bank’s dealers in Dubai with back office personnel based in Ras Al Khaimah, thereby accelerating information flow between the two parties. The KASTLE software links to RAKBank’s exiting IT set up through a J2EE interface. According to Srinivasan Sampath, head of business information technology at RAKBank, the whole thing works seamlessly. “The entire process is realtime with direct feeds from Reuters for Exchange rate and deals” he says. Since going live with KASTLE, RAKBank has experienced a number of benefits, For instance, its management team can better understanding various risks at a global level and across the bank’s business units. “Our decision to go with KASTLE from ICICI Infotech was based on the solution’s advanced functionalities catering to the specific needs of treasury transaction processing and its proven inhouse integration capabilities with our core banking system,” says Malcolm D’Souza, treasury head at RAKBank.

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