Overview

Sumitomo Mitsui Trust Bank (SuMiTB), a prominent financial institution based in Tokyo, Japan, successfully transformed its global operations by implementing the Acumennet Treasury Management Solution. Facing the challenges of modernizing its legacy core banking system and standardizing processes across its overseas offices, SuMiTB sought a comprehensive solution that could provide Straight-Through Processing (STP) integration, standardization, and a single common database while operating in a cloud environment.

By selecting Acumennet, SuMiTB achieved a significant transformation in its operations. The platform enabled real-time integration with back-office systems, reducing manual data entry and automating critical processes. This modernization not only enhanced efficiency but also ensured compliance with regulatory requirements, improved data protection, and strengthened security across its global offices

Implementation Process

SuMiTB’s implementation strategy encompassed the deployment of Acumennet across its overseas offices in key financial hubs, including London, New York, Singapore, Bangkok, Hong Kong, and Shanghai. This geographical expansion aimed to establish a unified platform for efficient communication and collaboration among the bank’s global offices. Furthermore, the adoption of a cloud environment played a pivotal role in maximizing the benefits of Acumennet, enhancing innovation, security, data protection, and regulatory compliance. The implementation process was characterized by its commitment to leveraging the latest technology tools to achieve operational excellence and competitiveness in the dynamic digital banking landscape.

Benefits Achieved

• Enhanced Operational Efficiency: Acumennet’s real-time integration with back-office systems minimized manual data entry, automating critical processes and significantly reducing operational overhead.
• Streamlined Global Operations: SuMiTB achieved a unified platform for communication and collaboration across its overseas offices, fostering efficient cross-border operations.
• Improved Data Security: The adoption of a cloud-based environment ensured robust data protection, meeting stringent regulatory requirements and enhancing overall security.
• Compliance and Regulatory Adherence: Acumennet facilitated regulatory compliance, a critical factor for SuMiTB’s competitiveness in the digital banking era
• Time Savings: The platform’s real-time interfaces with back-office systems eliminated the need for manual data entry, saving time and enhancing operational efficiency.
• Comprehensive Financial Instrument Coverage: Acumennet offered real-time valuation and risk analysis for a wide range of financial instruments, including FX, MM, Securities, OTC derivatives, and Exchange Traded derivatives, providing a holistic view of risk.
• Flexibility and Future-Readiness: The platform accommodated changes such as Libor decommissioning and the introduction of new instruments, ensuring SuMiTB’s readiness for evolving financial markets.

Conclusion

In conclusion, Sumitomo Mitsui Trust Bank’s strategic adoption of the Acumennet Treasury Management Solution marked a significant milestone in their journey toward operational modernization and global competitiveness. By embracing Acumennet, SuMiTB successfully streamlined its operations, achieved enhanced efficiency, and ensured regulatory compliance, all critical factors for thriving in the dynamic digital banking landscape. The platform’s real-time integration capabilities, cloud-based deployment, and comprehensive financial instrument coverage empowered SuMiTB to navigate evolving financial markets with confidence, positioning the bank as a forward-looking financial institution prepared to meet the challenges and opportunities of the future.

Key Facts

Bank Name: Sumitomo Mitsui Trust Bank
Bank Founded In: 1925
Bank HQ: Japan
Vendor Name: Profile Software
Solution Implemented: Acumen
Timeline: NA