Krung Thai Bank taps Reuters for risk system

Krung Thai Bank, Thailand’s largest state bank, has signed an agreement with Reuters, the global information and trading systems company, to provide a real-time trading room risk system and a back-office system to handle its processing and cash management requirements.

Krung Thai Bank will use a combination of Reuters Kondor+ and Kondor Trade Processing to provide an integrated front-to-back office risk management system for straight-through processing of its treasury and investment activities. The system will also be integrated with Krung Thai Bank’s core banking system and data warehouse system.

Pongsathorn Siriyodhin, first senior executive vice president at the Thai bank, said the systems will help the bank expand its volume of new and existing treasury products while rationalising operating costs and controlling its risks.

“The flexibility and openness of Kondor risk system enable Krung Thai Bank to achieve a straight-through processing not only within treasury operation but also to the bank’s core banking system and its data warehouse,” he said. “We are planning to use the Kondor risk system to help modernise the bank’s treasury trading and management systems, provide advanced risk management controls and upgrade our technology in support of our privatisation strategy.”

Krung Thai Bank is listed on the Thailand Stock Exchange and has 620 domestic and six oversea branches.