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Bank Thai signs up to FNX’s Sierra

Bank Thai - a bank established by the Thai government in 1998 when it consolidated the assets of Union Bank of Bangkok with Krung Thai Thanakit Finance and Securities and 12 other finance companies - has selected FNX’s Sierra Treasury system for its treasury trading, risk management and general ledger processing.

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The Bangkok-based bank will also use FNX’s Treasury Blotter tool that allows banks to monitor and manage their positions, exposures and limits for a range of financial products on the same screen.

Sierra Treasury boasts a three-fold straight-through processing capability, according to FNX. The first allows electronic processing of a transaction through its entire lifespan, the second is the ability to support a variety of financial instruments, while the third is its integrated use across multiple physical locations.

The implementation of the systems is expected to be a matter of months, but FNX provided no firm timetable.

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