Co-op Bank of Kenya Limited (Co-op Bank) has successfully gone live with Acumen.plus, its internationally acclaimed Treasury Management solution. This milestone marks the culmination of a strategic partnership aimed at optimising and streamlining the bank’s treasury operations through full automation and regulatory compliance.
Founded in 1965, Co-op Bank is the second-largest local bank in Kenya by customer volume and a prominent player in the East African financial sector. Listed on the Nairobi Securities Exchange, the bank offers a wide range of services including personal, business, corporate, and institutional banking, as well as investment and asset management.
As part of its growth strategy, Co-op Bank recognised the need to upgrade its Treasury system to enhance client service and enable straight-through processing (STP) for both vanilla and complex treasury products. The bank also prioritised the implementation of a robust risk management framework covering credit, market, and operational risks.
Following a comprehensive international vendor assessment, Co-op Bank selected Acumen.plus for its flexible and configurable end-to-end workflow, which supports all front-to-back Treasury trading activities. The solution’s embedded reporting engine offers user-defined dashboards in both graphical and board formats, providing Treasurers with a holistic view of activity, positions, liquidity, profitability, and risk. These real-time insights empower the bank’s team to make informed decisions swiftly and effectively.
The platform’s open APIs enable Co-op Bank to unlock new opportunities across all business domains, enhancing sales activities, automation, and customer experience. Its cutting-edge, open architecture ensures seamless integration with the bank’s existing core systems and scalability to support future growth and evolving client needs.
Mutahe Karuoro, Head of Treasury at Co-op Bank, commented: “Co-op Bank’s adoption of the Acumen.plus Treasury Management solution has addressed key challenges in operational efficiency, risk management, and scalability. This implementation enables us to better serve our clients and adapt to the dynamic financial landscape.”
Evangelos Angelides, Chief Executive Officer at Profile, added: “We are delighted to announce the successful go-live of Acumen.plus at Co-op Bank. By automating and streamlining front-to-back office processes, our cloud-native platform reduces manual errors and accelerates transaction processing, resulting in increased productivity and operational efficiency.”
Profile remains committed to advancing treasury management through its innovative, AI-enabled solutions. With deep expertise across the full spectrum of treasury operations – from front-office trading to risk and compliance – Profile empowers financial institutions and corporates worldwide to optimise performance, enhance decision-making, and deliver exceptional client service.
