12 February 2018
Reporter: Jenna Lomax

Family Bank introduces Acumen for its treasury operations

Family Bank in Kenya has implemented Profile Software’s Acumen solution for its treasury and risk management operations.

The solution covers financial products, such as middle market (MM), foreign exchange (FX), securities, repos, customer loans and deposits.

Acumen’s capabilities include straight through processing (STP) with real time interfaces.

Acumen net also has a complete view of the exact FX position, making sure intraday and overnight limits are under control.

According to Family Bank, these capabilities will keep customers updated with the latest developments and trends in the local and global financial markets.

It will also support the treasury department’s growing operations, as well as safeguarding the business from counterparty risk, by utilising the tools available to manage deriving risks.

The Acumen treasury solution was developed by Login SA.

Roseanne Wanjiru Ndungu, head of treasury, said: “Our treasury department requirements are pretty demanding. Our key reason for selecting Acumen net was the flexibility, automation and easy integration it provides to our operations to manage a huge number of transactions in real-time and with ease.”

She added: “The risk management functionality will also allow the bank to monitor and manage possible scenarios that will ensure compliance and proactive control to the business.”

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