Intellect One to drive BoC treasury management in India

The Bank of Ceylon (BoC) has picked Intellect Design Arena Ltd's Intellect One Treasury Solution to drive end-to-end treasury management of its operations in India.

Intellect Design specialises in digital technology across the banking and insurance sectors.

This is the first foreign bank in India to choose Intellect's One Treasury solution, to deliver front-mid-back office functionality. It is due to be launched soon.

Financial institutions look for enterprise, treasury and risk management solutions that can streamline global trading operations and help make insightful decisions. Treasurers are in need of central enterprise-level global solutions that go beyond mere operations execution.

They need intelligent solutions that will assist them in making insightful decisions and use of arbitrage opportunities, monitor global exposure and leverage risk information for performance management.

Intellect One Treasury, the integrated risk and treasury management solution, will help banks to change from managing risk to leveraging risk for business advantage thereby giving banks the edge to compete globally.

EVP and Geography Head, Indian Subcontinent, Middle East and Africa (IMEA), A. K. Srinivasan said, "The Bank of Ceylon is the largest bank in Sri Lanka and its choice of Intellect Treasury for operations in India is another testimony of our treasury solution's superior functionality and our leadership in the treasury space in the country. I'm confident that Intellect Treasury will help the bank streamline its business operations and processes."

Country Manager, Bank of Ceylon, Chennai, Nihal Surawimala said, "The Bank of Ceylon has always looked for a state-of-the-art treasury solution that has robust features and having out-of-the-box report framework to address statutory needs.

We are delighted to partner with Intellect due to its ability to provide not only India-ready solutions but also with adequate globally acceptable treasury functions."