HFC bank has acquired state-of-the-art software, Custody 2000 (C2K) to facilitate its operations.
The software, which has been tried and tested in other parts of Africa, is a comprehensive software with the ability for settlements processing, corporate actions processing, reporting, SWIFT messaging, fax, email, portfolio valuation to meet regulatory requirement and client billing.
The deployment of the new banking software was announced by Augustine Kwakye-Agyekum, Custody Services Adviser of HFC Bank at the launch of the Custody Services in Accra last week.
According to bank officials, the Custody 2000 would provide a more efficient and secures management of funds for its clients and the public.
Mr Kwakye-Agyekum said the software had the ability to interface with the bank’s main banking platform and a unique internet interface which would allow clients to view their positions and trade status via internet, as well as on-line reporting and trade capture.
He explained that the software formed part of the bank’s systems back-up arrangement, which included daily, monthly and year-end back-ups which were kept on-site and off-site.
HFC Bank, since the commencement of business, has opened over 28 branches. It is one of the few banks listed on the Ghana Stock Exchange.