BSB implements 3i’s Kastle treasury app

Bahraini Saudi Bank (BSB) has automated its treasury operations using Kastle — 3i Infotech’s advanced treasury management solution.

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By  Diana Milne Published  March 12, 2006

Bahraini Saudi Bank (BSB) has automated its treasury operations using Kastle — 3i Infotech’s advanced treasury management solution. Using the solution BSB will streamline its treasury processes, including the buying and selling of currency and the borrowing and lending of money to customers and other banks. BSB’s implementation of Kastle follows the launch of its 24-hour global access to foreign exchange markets and allows for real-time trading with direct feeds to the Forex and Money Market sites for exchange rates and deals. Venkatachalam P S, BSB’s head of IT, said the solution, would speed up the transacti- ons carried out by dealers. “It’s an excellent solution, processes can happen much faster now and dealers are able to make quicker decisions,” he noted. “It has automated a lot of things and a lot of manual tasks have been eliminated completely as a result. It allows us to streamline our operations and have better management,” he went on to add. Kastle has created a multi-entity and multi-portfolio environment for the bank which includes risk management, back office management, Management Information Systems (MIS) and pre-trade and post-trade support tools and analytics. The implementation took five months and was completed ahead of schedule. “Kastle was our solution of choice as it boasts highly flexible and parameterisable features that will support our growth demands going into the future,” claimed BSB’s CEO Khalid Shaheen. “In addition, due to 3i Infotech’s domain expertise and experience in the banking industry, the transition process went smoothly, whereby they demonstrated the ability to understand the dynamics of our business with ease,” he added. Shaheen said that the solution had enabled a better interface between the bank’s front and back office systems. “With Kastle in place we have achieved seamless straight- through processing by building the interface between our front- and back-end systems,” he said. “The entire process is now in real-time with direct feeds for Forex and Money Market for exchange rates and deals,” Shaheen went on to say. BSB was established in 1983 and offers commercial and retail banking services to its customers.

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