Bulgarian National Bank has begun using treasury management software to improve the efficiency of its financial services.
Trema’s software, Trema Suite, will provide the bank with support for its front, middle, and back office reserve management operations.
Trema Suite provides an industry-standard platform that complies with Eurosystem standards. Selecting Trema ensures the bank is well ahead of the deadline for compliance with the revised Eurosystem standards and Bulgaria’s integration into the European Union.
Drawing on local resources in its implementation of the platform, Trema has involved a local system integrator, Global Consulting, in installing the software.
Tsvetan Manchev, deputy governor at Bulgarian National Bank, said, As an accession country, ensuring our financial processes were efficient and standardized was vital. We are now running world-class financial systems and are not only on schedule to meet Eurosystem standards by 2007, but are setting an example for other countries to follow.