Rietumu Banka expands functionality, implementing the automation equipment in the section of investment activities

The EGAR Technology company completed an implementation project of new functionality on the EGAR Focus platform automating the section of investment activities of Rietumu Banka.

Internal work

End-to-end automation of processing of trade operations due to integration of EGAR Focus into the core banking system Misys Equation is reached. The solution EGAR Technology allowed to create and export automatically to the specified core banking system accounting entries both on trade, and on uncommercial transactions according to the chart of accounts and to quickly perform reconciliation of open trading day. Integration into the core banking system Equation was executed using an integration bus.

Work with clients

Within the project access via the web interface of clients of bank to the block of the operational reporting under transactions on their investment accounts using the specialized system of authorization was also implemented. At the moment service is available directly from the official site of Rietumu bank.

Opinions

Customer

The head of the investment block of Rietumu bank Daniel Zhiryakov notes: "We successfully completed the next stage of a lot of work together with EGAR Technology. I want to note that the contractor performed the work at the high professional grade and in time. The integrated back office implemented within the project allows to exclude practically manual entry of data, providing to clients and employees of the bank convenient, reliable and effective access to the reporting".

Integrator

The CEO of EGAR Technology company Gennady Ioffe supplements: "We calculate that our contribution to development of a technology platform of bank will be made by its market movement even more dynamic and attractive to clients".

Results

Significant development of systems capabilities in support of the back office transactions Rietumu Banka, also regarding client service became result of the completed phase of works.

EGAR Technology unrolled with the assistance of specialists on the party of Rietumu Banka the solution covers at the moment all types of investment transactions of bank with securities, FX, commodities and the derivative financial instruments, supporting function of the margin trading. In EGAR Focus the single interface of import of transactions from trade platforms of FXCM and Pinnacle, interfaces for import of quotations from Bloomberg and Reuters and margin requirements for derivatives on the basis of SPAN and also the interface for reconciliation of a remaining balance with the core banking system Equation is implemented.

The client, regulatory and internal reporting of Rietumu Banks is developed in the IBAN standard adopted in the countries of the European Union.