Capitec Selects IT2 for Treasury
Capitec Bank has chosen IT2's treasury product for its operations, the vendor has announced.
Capitec, a South African bank, will use the software to enhance the automation of its treasury functions, reduce operational risk and manage funding, investments, foreign exchange (FX) and liquidity. The back-office implementation project will be led by IT2's South African partner, TreasuryOne.
"Capitec Bank is an exciting, technically innovative institution," says Hennie de Klerk, CEO at TreasuryOne. "It has secured a single, centralized, best practice straight-through processing framework for cash, funding and back office workflows that is totally in tune with the bank's innovative technical approach, rapid growth and philosophy. It is set to secure reduced costs, audit friendly, self-documenting processes and a sophisticated, up-to-date view of its cash, risk, funding, treasury exposures and hedging. Ultimately, Capitec's technology investment facilitates a streamlined platform and paperless back office that mitigates operational risk and saves consumers money."
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