Croatian National Bank Selects Wallstreet to Support Reserve Management Operations and Achieve Eurozone Compliance

Category: Financial

Published: 25 January 2009

New York, London, 26 January 2009 - Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announced that its Wallstreet Suite solution has been selected by the Croatian National Bank to help support reserve management operations and achieve compliance with Eurozone standards. Croatia is preparing to join the European Union and Eurozone within the next two years. With around 98% of Eurozone reserves powered by Wallstreet Suite, the solution is viewed as the central banking software of choice.

The Croatian National Bank, headquartered in Zagreb, will deploy Wallstreet Suite to 28 users in their Reserve Management Department.

The bank aims to standardize and automate semi-manual treasury processes in order to achieve high levels of straight through processing, free up resources and allow for more value-added risk management and investment research activities. Implementation began in November 2008 and the system is scheduled to go live in mid 2009.

Jadranka Marušic, Director, International Reserves & FX Liquidity at the Croatian National Bank, said: “We selected Wallstreet because of their dedicated focus on the Eurozone central banking sector. Wallstreet Suite covers a broad range of central bank processes."

Gavin Style, Managing Director, Sales and Marketing, Wall Street Systems, said: “By choosing Wallstreet Suite, the Croatian National Bank will benefit from a system that has been precisely tailored to meet the needs of the central banks in the Eurozone. We are delighted to be supporting the bank as Croatia moves towards membership of the European Union.”

Wallstreet Suite is fully pre-configured for central banks, based on proven methodologies, expert insights and industry best practices to ensure optimum use. It enables efficient reserve management, asset management and monetary policy execution in a single integrated system, and provides front-to-back office support across all operations and through to the accounting function.