Oman and Nigerian Central Banks Select Wall Street Systems
Wall Street Systems, a provider of treasury, trading and settlement solutions, has signed the Central Bank of Oman (CBO), as well as gone live at the Central Bank of Nigeria (CBN). Wallstreet Suite’s adoption among central banks across the world is growing as the system includes a pre-configured solution tuned to the unique and specific needs of the central bank.
CBO has selected Wallstreet Suite and will be using the solution to support its foreign reserve management and payment operations. The bank will benefit from efficiency and automation in the front office and middle office systems for its treasury and investment operations, which manage the foreign reserve and investment activities. Wall Street Systems will deploy the pre-configured central banking solution, based on proven methodologies, expert insight and industry best practices to ensure optimum use.
Wallstreet will work in conjunction with its partner in the region, Raqmiyat from UAE, who will provide on-site support to the bank after go-live. CBO selected Wallstreet Suite for its real-time capability, workflow automation, integration with external trading platforms, and strong risk management and performance measurement modules.
CBN, one of the largest central banks in sub-Saharan Africa, has gone live with Wallstreet Suite. The bank will move to a fully automated process including consolidated financial reporting for external manager investments, automated generation of SWIFT messages, and automated production of accounting entries. The solution will also be used to maintain an audit of all transactions.