Capital G Licenses New Software
Capital G Bank has licensed the Spectrum Treasury System from Financial Software Systems to manage its foreign exchange, money market and interest rate hedging activities.
Spectrum is a comprehensive position management system for foreign exchange, money market instruments, fixed income instruments, equities and derivatives. Capital G Bank will use Spectrum to manage its FX trading activity and its Money Market and Repo activity.
In addition, Capital G Bank will manage its Forward Rate Agreement and Interest Rate Swap hedging activity in Spectrum. Spectrum will provide Capital G Bank with complete front-office, middle-office and back-office functionality, with true straight through processing of Treasury transactions from deal-capture in the front-office to producing general ledger accounting entries in the back-office. Spectrum is built on Microsoft’s .NET platform.
Leigh Ann Wolfe, Financial Software Systems’ director of new Business development for Latin America and the Caribbean, commented: “Financial Software Systems is pleased to welcome Capital G Bank to our growing list of international banking clients. We appreciate Capital G Bank’s record of success and growth in Bermuda’s banking market. Just like Financial Software Systems, Capital G Bank has achieved its growth through focusing on providing outstanding service and customised business solutions. Capital G Bank offers a broad range of international banking services, and we look forward to helping the bank expand its Treasury offerings and to streamlining the bank’s back-office operations.”
Capital G Bank is one of only four licensed banks in Bermuda. The bank provides a wide range of financial services including deposit and loan products denominated in both US and Bermuda Dollars.
