Bank to boost treasury services with new software

PHILIPPINE Business Bank (PBB) wants to ramp up treasury services offered to small- and medium-enterprise clients through the help of a front-to-back office banking software that the central bank is also rolling out.

According to Australian firm CCK Financial Solutions, it has signed a contract with PBB for the latter’s purchase of its treasury management and wholesale banking solution called Guava Suite.

CCK said in a statement that Guava Suite would be used to manage the savings bank’s entire treasury operation, including dealing, risk management, settlement, accounting and reporting.

PBB “is our fifth client in the Philippines and [this contract] consolidates our position as the system of choice in the country,” said CCK managing director Joseph Wong, adding that CCK won the contract against international competitors.

Rolando Avante, PBB president and chief executive, said PBB has been going through a period of “strong growth.”

Avante said the implementation of Guava would help PBB in improving services to its SME client base in the area of treasury services.

“Our treasury is already an important contributor to the bank’s services to our clients and our new technology will enable (PBB) to continue to break new ground in innovative banking solutions for our clients,” he said.