Central Bank of Egypt in treasury management system overhaul with Profile Software
Banking tech provider Profile Software has signed Central Bank of Egypt (CBE), Egypt’s monetary authority, for its Acumen.plus treasury management system.
“Having demanding compliance and reporting requirements, increasing volume of trades and data and extensive universe of instruments, the risk and treasury management system is of paramount importance to CBE, thus the search has been extensive,” Profile says.
Acumen.plus was selected following an international vendor assessment.
The vendor says CBE was looking for a single platform and central repository with configurable workflows that allow straight-through processing (STP). A “flexible, configurable, and dependable settlement processing and accounting engine” was a must as well as “real-time mechanisms in all areas including APIs with market data providers”.
Another requirement was for a tailor-made front-to-back office solution for integrated treasury operations including trading, liquidity funding, reporting and hedging, foreign exchange and interest rate risk monitoring.
Acumen.plus will support all operations linked to CBE management of investment portfolio, foreign reserves and various policy-driven asset programmes.
Founded in 1990 in Greece, Profile has presence in 45 countries across Europe, the Middle East, Asia, Africa and the Americas, focusing on the investment management and banking industries.