Perth financial services technology company CCK Financial Solutions Ltd recently put pen to paper on three contracts in Malaysia for the implementation of its specialty treasury management product, Guava.
Perth financial services technology company CCK Financial Solutions Ltd recently put pen to paper on three contracts in Malaysia for the implementation of its specialty treasury management product, Guava.
The new contracts, worth more than $1 million, are with prominent Malaysian broking houses PM Securities, OSK Securities and K&N Kenanga.
Guava is a fully integrated suite of front-to-back office treasury applications, providing users with effective straight-through processing.
The suite of products covers dealing, which includes financial product pricing, portfolio analysis and deal capture, as well as risk management, operations and accounting.
CCK managing director Joseph Wong said the product was designed to look after a company’s cash position, its financial risk incorporating interest rate risk, investment risk, borrowing risk, and currency and liquidity risk.
“It is a specialty treasury management system, and apart from managing all aspects of financial risk, it also deals with back-office processing and administration functions,” he said.
All three financial institutions will use Guava for their total treasury functions, while for OSK the use of the product will also include the company’s corporate banking requirements.
CCK was established in 1981 and, amidst the tech boom of the late 1990s, listed on the Australian Stock Exchange in 1999.
The company’s business has always been the provision of financial services software, and over time it has refined its focus to the development, implementation and support of treasury and capital market solutions.
With the treasury niche in mind, CCK spent three years building its new generation software, which is now available as the Guava Suite of applications.
The CCK model follows a similar path to other start-up IT companies’ development of software products in that much initial hard work is spent on software development before the company embarks on the next phase of growth, which is to build a client base for the product.
“Clients need to have confidence that the software will work and work well,” Mr Wong said.
“We think Guava is a world-class product. The key thing is that each customer is different, so the product has been designed with flexibility and functionality in mind so each client can adapt it for their own requirements.
“We have the Guava suite as our focus, and because it has been constructed with a robust design that also has the ability to change, building it has been the most difficult part.
“The three Malaysian companies are going through major change so the flexibility of our product was a great fit for them.”
Instead of pursuing other products, the company works at tailoring Guava to the individual needs of each client.
On the local front, CCK has work in place with ING, Wesfarmers and Deutsche Bank.