Central Bank of Egypt Selects Profile Software’s Acumen.plus Cash Management System

Profile Software, a leading provider of financial solutions, today announced that the Central Bank of Egypt (CBE) has selected Acumen.plus, the globally implemented cash management system, to effectively manage and streamline its operations while benefiting from compliance and powerful reporting for reserves and debt management.

The platform will be implemented at the headquarters in Cairo.

The Central Bank of Egypt (CBE) in Cairo has a total of 4 branches located in 3 cities. As the largest public financial institution, the CBE serves the country by maintaining price stability. Having demanding compliance and reporting requirements, an increasing volume of transactions and data and a vast universe of instruments, the risk and cash management system is of paramount importance to CBE, so research was thorough.

Following an international vendor assessment, Acumen.plus aims to provide a fully integrated and preconfigured multi-asset treasury solution to the Central Bank of Egypt. CBE was looking for a single platform and central repository with configurable workflows that enable seamless and enhanced straight-through processing (STP). It became clear that there was a need for a flexible, configurable and reliable settlement accounting and processing engine, as well as real-time mechanisms in all areas, including APIs with data providers from market.

In addition, CBE needed a bespoke Front-to-Back solution, i.e. end-to-end integrated treasury operations, including trading, liquidity funding, reporting and hedging, monitoring of foreign exchange and interest rate risks.

Acumen.plus supports all operations related to CBE’s management of the investment portfolio, foreign exchange reserves and various policy-oriented asset programs.

Additionally, by moving to an integrated platform and optimizing workflows, CBE will significantly reduce costs and complexity, benefiting from secure scalable technology. Adopting modern technology, CBE will manage its business with agility, optimally covering its current and future cash flow needs.

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