Yoma Bank Completes Successful Fusion Treasury Implementation with Finastra
New Front-to-Back Solution will Deliver Intuitive and Personalized Solutions for Yoma Bank’s Treasury Clients
October 19, 2017
Yangon, Myanmar October 19, 2017 – On September 25th, 2017, Yoma Bank successfully implemented Fusion Treasury, powered by Opics, with Finastra. The new front-to-back Treasury solution is part of Yoma Bank's technology-led journey and its continued endeavor to deliver intuitive and personalized solutions for its treasury clients, while maintaining adequate controls, managing risks, continuing regulatory compliance, and improving efficiency.
Yoma Bank Treasury provides an enhanced suite of products and services for its Retail, SME, Corporate, and Institutional clients, which includes FX spots and forwards, FX swaps, cross currency swaps and structured derivatives. In July, Yoma Bank along with KBZ Bank executed the first ever repo test trade in Myanmar.
Speaking on the development, Mr. Vijay Maheshwari Yoma Bank CFO said, “Fusion Treasury, powered by Opics, significantly increases Yoma Bank's capabilities to provide better solutions for our clients and at the same time further enhances our core strengths of optimal risk management and adequate controls. As we continue to work towards Myanmar financial markets development, having a world class treasury system ensures ready capabilities to innovate products and services for our clients.”
“I would like to thank the Finastra and Yoma Bank teams for the great teamwork and the successful implementation, which was achieved on schedule,” Mr. Maheshwari added.
With Fusion Treasury in place, Yoma Bank will be able to service its clients with the best front-to-back-office processing system for money market and FX solutions. The bank will benefit from greater transparency, flexibility and functionality on an industry leading single platform, putting Yoma Bank’s Treasury capabilities in the same league as international players.
Commenting on the implementation, Imad Abou-Haidar, Managing Director – Asia Pacific at Finastra, said, “We have strong expertise in helping Myanmar banks transform to better serve their customers and bring more efficient, convenient banking services to the region. Yoma Bank already benefits from our retail banking solutions and deploying Fusion Treasury is another opportunity to bring real value to its growing client-base, specifically in the treasury space. Fusion Treasury is a modern, componentized and agile solution trusted by hundreds of bank treasuries across the world. It will help Yoma Bank maintain its competitive edge in Myanmar and support the bank’s continued business growth as a leading bank in Myanmar.”
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