Philippines: LandBank to integrate treasury processes

System integration services provided by Soluziona Philippines

(Manila, Philippines, March 4, 2008) – Land Bank of the Philippines, the official depository bank of the Republic of the Philippines, has partnered with Soluziona Philippines, a provider of management, technology and infrastructure solutions, to implement a comprehensive treasury system that will fully integrate the Treasury Department’s front, middle and back-office operations.

The system, called Integrated Treasury System (ITS), will be implemented by Soluziona with SunGard, its partner for treasury solution implementations in the Philippines.

According to project sponsor and LANDBANK senior executive vice president Alfonso Cruz, the extensive project is expected to make a significant impact on the bank’s operations. “There is a pressing need for an efficient and integrated treasury system that will facilitate efficient and timely delivery of services to stakeholders and customers,” Cruz said. He added that a major component of the project is the consolidation of data and processes presently residing in two systems that separately handle peso and foreign exchange transactions.

The initiative is aligned with LANDBANK’s overall thrust of establishing an electronic framework for technology-driven processes. “LANDBANK recognizes that this is an age where one has to take advantage of IT solutions to achieve streamlined operations,” said project co-sponsor Roberto Vergara, first vice president and head of Treasury. “The integrated treasury system will dramatically speed up transactions and the flow of information such as quotations for available government securities; even foreign exchange rates.”

According to Cruz, the ultimate goal for the project is to integrate over 300 LANDBANK branches nationwide into one system. “One of the things that we required of Soluziona is for the project to be implemented in such a way that it can support future improvements,” he added. LANDBANK is subject to government regulatory conditions, and compliance often entails modifying processes. “We want to maximize the benefits of the investment by making sure that it stays relevant despite adjustments that may be required in the future,” Cruz said.

“Soluziona has previously worked on a couple of LANDBANK IT projects already,” said Vergara. “So from experience, we are happy to be working with Soluziona. We know that they operate in a highly professional manner and we are confident that our expectations—which include timely delivery, budget considerations, and after-implementation support—will be met,” Vergara said.

Aside from setting up the real-time ITS, the nine-month project also involves software installation, manpower support, conduct of workshops, training and review sessions, project activity support, development of reports and interfaces, project documentation for client-specific projects, and warranty services.

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