RMB completes SLB system migration to SLAMS

22 February 2005

South African investment bank Rand Merchant Bank's Securities Lending Division recently completed its migration to the Peresys SLAMS system.

Head of RMB's Securities Lending Division, Ryan Proudfoot, said “We identified the need for a system that was capable of meeting our ongoing functional requirements that would differentiate ourselves from the rest of the market. Peresys's SLAMS system has been able to meet these requirements. I am also pleased to say that the migration proceeded smoothly with minimal disruption to our client base."

According to Ashley Slamat, RMB's Project Leader on implementation, "By acquiring SLAMS we have been able to integrate our lending process as well as enjoy additional functionality which was not available in the previous system. A solution was also provided by Peresys which enables us to communicate effectively with STRATE using SWIFT. We envisage working with Peresys to address outstanding requirements to achieve end to end straight-through-processing in our SLB environment later this year.'

'RMB is a major SLB player in South Africa and we are delighted to add to them to our rapidly growing list of clients' says Dave Harty, SLAMS product owner at Peresys. 'In addition to a challenging data migration exercise, RMB's additional functional requirements have enhanced SLAMS even further', added Harty.