Standard Bank International, a Johannesburg, South Africa-based emerging markets bank, has implemented the Calypso's (San Francisco) system for cash management as a centralized solution for the firm's London cash management business. According to a press release, the Calypso system manages the bank's cash flow projections in real-time and allows users to monitor and explain balance composition.

"With the Calypso system, we have been able to implement a number of control levels to reduce operational risk and address our compliance needs in a more effective manner. At any given point in time, a senior manager is able to view the bank's cash positions on a consolidated level," Peter Hosier, head of operations at Standard Bank International said in the release.

Standard Bank is looking to further consolidate its back office by expanding use of the Calypso platform to encompass securities processing. "The Calypso solution is a perfect match for Standard Bank International's ambition to bring innovative products to the market which has always been our competitive edge. As an example, we have worked with Calypso on a greenfield development to provide key functionality for TRAX2 reporting and matching as well as Tri-Party Repos," Hosier stated.