Land Bank, South Africa Installs FTI’s Treasury System

Land Bank, South Africa has chosen FTI, the International Financial Services Centre (IFSC)-based treasury company, to install its treasury system, FTI STAR.

The Land Bank is a state-owned bank that provides financing to the agricultural sector in South Africa. FTI, in conjunction with its local partner eSoftware Solutions, won the contract, worth over €300,000, following an international tender.

The project involves the implementation of the FTI STAR treasury system, which will be used by Land Bank to manage its financing and loan book. This is FTI’s second system implementation in South Africa. Last year, it won a similar project with South African Post Office (SAPO). FTI’s treasury system is now used to support the banking part of the business.

Eddie Fogarty, managing director, FTI, said: “South Africa has escaped better than most economies from the financial markets collapse. Prospects for more business are excellent. We are delighted with this further success, especially having beaten out competition from the biggest systems companies worldwide.”

FTI employs 25 and has a software development company in Sofia.


Related reading

New consumer banking head for Citi Asia Pacific