IT2 Treasury Solutions says that the Stockholm based Skandia Insurance Company Ltd (publ) has selected the IT2 treasury management system to provide an integrated best practice solution to support its cash, treasury accounting and treasury risk management operations.
The Skandia IT2 implementation will provide transparent, workflow based solutions for such diverse treasury functions as in-house banking, cash concentration, continuous linked settlement, cash forecasting, hedge accounting and the management of bond portfolios. A broad approach to reporting and analyzing financial risk exposures will include credit risk management, scenario analysis and VaR derivation. IT2 will operate as a treasury control hub, and will be integrated with several complementary systems and services, including; Multibank reporting and payment systems; Several dealing portals; Misys Confirmation Matching service ; SimCorp Dimension and internal applications (trade cash flows for liquidity planning in IT2) and Reuters and Bloomberg market information services.
Additionally, IT2 NET will be used for web based intercommunication between central treasury and Skandia’s remote business operations, for deal requests; cash/liquidity forecasting, settlement requests and reporting.
