/ May 27, 2009

First time in Mongolia TDB has implemented Treasury and Asset management system

In cooperation with GrapeCity company TDB has implemented brand new system of asset management and its accounting. A short interview was taken from J.Erdenechimeg, Head of Treasury and Trading Back Office Unit about major advantages of new system.

Congratulations, you have implemented a brand new Treasury system first time in Mongolia. Would you explain what main purpose of this system is? What is its usage?

The Treasury system is a scalable solution that accurately analyses the risk exposure and performance of trading for any portfolio, any securities, any precious metals and all traded foreign currencies. The system provides automation of asset management of bank’s current accounts in foreign banks, to ensure that transactions and processes are executed correctly and on time.
It is an operational tool to increase the efficiency of treasury and asset management processes and its back office accounting. Also the main advantage of the system is that it’s fully integrated with Core banking system and General ledger of the Bank.

J.Erdenechimeg, Head of Treasury and Trading Back Office Unit, TDB


How long did it take to implement the whole system?

In order to deliver more efficient and non-risk trading and accounting services to our customers and to perform fast and reliable trading with local and foreign banks, the Bank established Treasury and Trading Back Office Unit in 2000. First time in 2002 we realized that we need a new system and since then we have worked on it. The new system has implemented due to many researches, testing and hard working of our colleagues.
I think that implementation of the treasury system makes its important contribution not only to TDB, but also to Mongolian banking sector development.

What operations are automated through the treasury system? Would you explain some of major advantages?

Sure. The system has many advantages, which automate several banking operations. Besides the treasury system allows managing banking assets, also decreases risks of accounting operations, gives instant surveys of bank’s present financial information flow and currency positions, streamlines money market, foreign exchange and equity deals as well as deals in all traded currencies, increases internal control of operations and gives a better general outlook, healthier prognoses, and greater possibilities of on time recording of asset management income and expenditure, automation of trading databases and banking operations, and at last it performs risk analysis in real-time, and makes the financial risks of trading operations clearly visible.

How long have you been using the new system, since the implementation? What is the result and what is your satisfaction?

Since the implementation, 2 months already have passed. The system fully automated the manual spreadsheet based operations, which were slow and error prone. As I told before the system provides many advantages such as allowing faster and efficient transactions, better reporting system and providing more sophistication in cash management process. Of course, the system is brand new, so there were certain mistakes we had to learn on it. Further we will be working on improving of the system to meet our customers’ needs and deliver international standard products and services.

What is the next technology TDB is planning to implement in the near future?

TDB is planning to implement many international standard banking technologies in the near future. For example, the bank is working to implement a new trade finance system and also planning to implement Visa, MasterCard EMV chip card technology.

Thank you and Best wishes to you.

Branches Non cash exchange Loan calculator E-Magazine E-Brochure Facebook Twitter Youtube TDB Bot Online Chat Contact Feedback