13/09/2010
OpusCapita to deliver a treasury system to Tapiola Bank
OpusCapita has been selected to deliver a modern IT2 treasury
system to Tapiola Bank.
The first stage of the delivery involves Tapiola Bank
introducing treasury solutions for the management of the most
common financial instruments. The objective is to maximise
automation in trading transactions and to provide flexible and
timely reporting, including accounting and risk management.
In the second stage in autumn 2010, the system will be expanded
to cover more complex instruments, and the treasury system will be
integrated with the bank's other data systems such as data storage
and accounting.
This system delivery reflects Tapiola Bank's strategy of
actively developing its treasury business. The treasury business
was launched at the beginning of 2009. Tapiola Bank offers treasury
services to its customers and to other companies in the Tapiola
Group.
"For Tapiola Bank and its treasury department, a treasury system
that delivers excellent risk management features and covers our
reporting needs is a key requirement for our business growth. The
new solution allows us to enter all the bank's interest, currency
and derivative positions in a single system, which enables more
flexible risk management. The bank's management is also very happy
with a solution that provides more versatile and quicker
reporting," says Kim Selin, Treasurer at Tapiola
Bank.
Before selecting a system for delivery, Tapiola Bank and
Tieto-Tapiola, which is in charge of the information systems for
the entire Tapiola Group, studied and analysed the treasury
solutions available in the market in detail.
"OpusCapita's ability to provide local support for the system
was a determining factor. Opus Capita's cutting-edge IT2 solution
features technology that is far superior to other solutions
available in the market. Furthermore, it has been a long time since
a user interface and usability features have offered anything new,
but the IT2 delivers features that significantly ease and enhance
the work processes of our treasury staff," explains Kaija
Jokiharju, Tapiola Bank's Service Director.
The IT2 solution was developed by OpusCapita's partner, IT2
Treasury Solutions Ltd., which is owned by CapMan Plc. The system
is extensively used all over the world for different financial
agreement and financial instrument processing automation,
reporting, risk management and hedge accounting. It also
automatically generates the documentation required by auditors. In
Finland, IT2 treasury solutions have been delivered to clients such
as Ramirent Plc, Huhtamäki Oyj, Tikkurila Oyj and Fiskars Oy.
Tapiola Bank primarily provides services for private customers
and small enterprises. The Bank launched operations in 2004 and is
owned by the mutual insurance companies in the Tapiola Group.
OpusCapita delivers cash flow automation solutions to banks,
businesses and the public sector.
For further information, please contact:
Tapiola Bank
Kaija Jokiharju, Service Director, tel. +358 9 453 9416
Kim Selin, Treasurer, tel. +358 9 453 7075
e-mail addresses: firstname.lastname@tapiola.fi
OpusCapita
Päivi Karesjoki, Regional Manager, +358 20 7463 235,
paivi.karesjoki(at)opuscapita.com
Tiina Härkönen, CMO, tel. +358 50 384 3162,
tiina.harkonen(at)opuscapita.com
