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NEWS
Release Date: 11th February 2009
 
Futurebank completes landmark project with China Systems

Manama, Bahrain – Futurebank, a Bahrain-headquartered full commercial bank, has announced the successful completion of its overall IT Services Enhancement project in collaboration with China Systems, the largest trade services solutions vendor in the world, in a record five weeks.

The project enabled Futurebank to upgrade its systems using China Systems’ CS Eximbills technology, an integrated trade finance system designed to automate the full range of Trade Finance activity as well as the communication needs of the bank.
 

 

China Systems first executed a thorough compatibility study to ensure that all Futurebank requirements were met by the Eximbills Business Model. The company further provided Futurebank with the production setup, data migration and data take-on that enabled the bank to commence live operations well ahead of a conceived schedule which has made a precedent for both organizations.


Dr. Valiollah Seif, Chief Executive Officer and Managing Director, Futurebank, commented on the bank’s successful collaboration with China Systems, “Futurebank’s unusual growth in spite of market conditions has led us to upgrade many of our systems. This most recent project is in line with our long term strategy to provide superior, world class, Trade Finance solutions to our growing customer base. By partnering with such a renowned trade services solutions vendor, China Systems, Futurebank will strategically expand its comprehensive service offering.”

“We are extremely pleased to have completed the project well ahead of the traditional time frame of 12 months. Futurebank’s skilled team of professionals worked in unison with China Systems to ensure the project was carried out in a timely and efficient manner,” added Dr. Seif.

Stefan Tryggvason, Vice Chairman, China Systems, said Futurebank was a prestigious addition to their client base, “China Systems was very pleased with the speed and efficiency with which the project for Futurebank was completed. We look forward to strengthening our relationship with the bank and supporting them as they expand their reach and operations within the Middle East region.”

“China Systems Business Model is functionally rich and caters for the most creative of business processes and accounting requirements. These features enabled the Model to be well accepted by Futurebank with minimal additional requirements and changes,” added Tryggvason.
 

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