Business

Family Bank in Kenya Deploys Acumennet

Family Bank, Kenya has deployed Acumennet, the independent treasury solution developed by Login SA which is a Profile Software company, for its Treasury and Risk Management operations.

Family Bank headquarters along Muindi Mbingu Street in Nairobi. Photo: The Star Kenya/Enos Teche

Family Bank, the 5th largest bank in Kenya with a branch network of 93 outlets and over 1.8million customers, is experiencing a growing balance sheet and deposit base.

The Bank's Treasury Department offers a broad range of products and services and is very active in the local Inter-bank money market and foreign exchange.

To support its growing operations, Family Bank deployed Acumennet as the backbone of all treasury transactions, as it includes all dealing systems and ensures reliable STP with real-time interfaces upstream from several trading platforms and downstream to the back office solution. 

Financial products such as MM, FX, securities, repos and customer loans/deposits are covered by the solution. In addition, Family Bank selected Acumennet Risk Management modules to safeguard the business from counterparty risk.

Roseanne Wanjiru Ndungu, Head of Treasury, states: “Our Treasury Department requirements are pretty demanding. Our key reason for selecting Acumennet was the flexibility, automation and easy integration it provides to our operations to manage a huge number of transactions in real-time and with ease. The Risk Management functionality will also allow the bank to monitor and manage possible scenarios that will ensure compliance and proactive control to the business”.