Bangalore, Nov 15 IANS | 2 years ago

Bank One, a leading bank in the island nation of Mauritius off the southern African coast, selected the financial software product Finacle of Indian IT firm Infosys for its treasury operations, the software major said Friday.

"The bank's treasury operations have been automated with our Finacle product to enhance efficiency and reduce manual effort. The software empowers its users to diversify their investments in treasury products and maximise returns," the company said in a statement here.

The treasury solution also enables the bank to access trading information in real time and process deal transactions faster.

"Finacle is a reliable solution for seamless treasury management, as it makes banks maximise liquidity and mitigate operational and financial risk," Infosys regional head for growth markets Venkatramana Gosavi said, in a statement.

The product helps the bank to centralise monitoring its global currency position, manage credit risk with built-in limits and integrate its deal platform to capture information from external trading platforms.

"The solution ensures the bank to comply with IT and data security needs of regulatory and internal audit," Gosavi noted.

Bank's chief executive Raj Dussoye said Finacle would facilitate the management to meet regulatory requirements and needs of its customers.

"We are confident Finacle will support the bank to become efficient, customer friendly and a profitable organisation in Mauritius," Dussoye added.

Catering to domestic and international markets with financial solutions to retail, corporate and private customers, the bank has 16 branches across the island, and an ATM network.

(Posted on 15-11-2013)