Union National Bank (UNB), Abu Dhabi, has deployed Infosys Finacle Treasury solution to drive its treasury and capital markets business.
Besides integrating its trading, risk management and back office operations, Finacle has enabled the Middle East bank to extend its Fixed Income offering to new markets in Europe and South East Asia and manage more asset types effectively.
The deployment of Finacle Treasury solution will help UNB process trades faster and also aggregate risk across multiple asset classes.
The new solution has automated the monitoring of various limits and alerts to relevant stakeholders at UNB. It also offers real-time monitoring and action in case of a security breach.
In addition, the bank can prepare regulatory with ease ensuring compliance and faster reconciliation between the bank’s middle and front-office records.
Finacle management modules implemented at UNB include Forex, Money Market, Fixed Income Securities, Equities, Derivatives, VaR and Limits and Risk Tracking, said Infosys.
Galal E Khadr, senior vice president – h of Treasury & Investment Division, UNB, said that the company has automated its main operations within UNB’s back office, such as accounting, SWIFT and UAEFTS with Finacle to assist the bank to manage increased business volumes without increasing headcount.