Cecabank bas obtained the top overall score on the award criteria set by ICO in its call for tender. Cecabank's broad range of services was considered a particular advantage, along with its technology infrastructure, and flexibility in adapting to technical and business requirements.
Cecabank's proposal comprised a global modular, scalable solution providing support for capital markets and treasury management. Specifically, the service involves the capture and administration of treasury operations, accounting management, and overseeing risk exposures.
Cecabank will be responsible for maintenance, support and development of the treasury and risk platform, and all the services necessary for their operation. The scope of the proposal also covered the latest market and regulatory requirements, such as efficient collateral management, EMIR regulations, reporting operations to the trade repository, and advanced risk measurement methodologies.
Cecabank already provides a treasury and risk platform service to six banks. It also provides partial services on this platform (risk management, collateral, or EMIR directive compliance) to nine more institutions.
Having an institution like ICO, a public credit institution, join Cecabank's customer portfolio represents another step in its commercial expansion. Being awarded this contract is an endorsement of the specialist wholesale bank's technology and financial services.
