Federal Home Loan Bank of San Francisco has selected Calypso Technology’s front-to-back office system to support its front office trade origination, valuation, accounting and back office processing activities.
Acording to Calypso, Federal Home Loan Bank wanted a solution that was capable of supporting transactions for structured trades, member advances, and mortgage-backed security investments; and that could also perform the associated back office processing.
Calypso claimed that its system will replace a number of internally- and externally-developed applications with a solution that will deliver key elements of straight-through processing, which will allow the bank to process transactions with little or no manual intervention.
Lisa MacMillen, COO of Federal Home Loan Bank, said: “Our objective was to select a single vendor solution that supported front office trading through to back office processing. At the same time, the bank needed a solution that could support its current broad range of financial products and services.”